BOSTON -April 14, 2023 – With the USD 20 million Series A fundraising of NetBox Labs, which assists businesses in constructing and managing complex networks, Burns & Levinson represented client Flybridge Capital as the leading investor. The investment, which was disclosed on April 11 and was headed by Flybridge, included contributions from the Founder Collective, IBM, the CEO of Grafana Labs, Raj Dutt, Mango Capital, Salesforce Ventures, Two Sigma Ventures, and Entrée Capital. In connection with the financing, Glenn Solomon of GGV Capital, Raj Dutt of Grafana Labs, and David Aronoff of Flybridge will join the board of NetBox Labs.
EC/VC partner Andrew Merken and corporate associate Naveed Cheraghchi worked together on the Burns & Levinson acquisition team.
After the spin-off of NetBox Labs from NS1, which IBM recently bought, came the Series A financing. As co-founder and chief executive officer of NetBox Labs, Kris Beevers, the former CEO of NS1, is joined by NetBox Lead Maintainer Jeremy Stretch. More than a dozen devoted team members, former NS1 finance, operations, technology, product, and business development executives, and more than a dozen more make up the NetBox Labs crew. With a worldwide virtual workforce, the business will have its headquarters in New York City.
With the help of the Series A investment, NetBox Labs will be able to scale up the creation and distribution of open-source NetBox and NetBox Cloud, a hosted NetBox solution with distinct performance and service level agreements and paid support. Several clients, including Chewy, Dartmouth College, and Constant Contact, currently use NetBox Cloud as a network source of truth to guide their network automation approach. With intro, standard, and business subscriptions available, NetBox Cloud adds dependability, security, compliance, and more capabilities while removing the administrative burden of hosting and managing enterprise-grade NetBox instances.
“Working with Flybridge on this unusual investment was a blast. Even before this Series A financing, NetBox Labs’ technology had already been widely adopted by customers. We are eager to keep working with Flybridge as they assist propel NetBox’s future success and growth, “Merken stated.
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