Burns & Levinson represented client Flybridge Capital as the lead investor in NetBox Labs’ $20 million Series A fundraising. NetBox Labs assists businesses in building and managing complicated networks. GGV Capital, Grafana Labs CEO Raj Dutt, Mango Capital, Salesforce Ventures, Two Sigma Ventures, IBM, the Founder Collective, and Entrée Capital joined Flybridge in the investment, which was disclosed on April 11.
David Aronoff of Flybridge, Raj Dutt of Grafana Labs, and Glenn Solomon of GGV Capital will join NetBox Labs’ board as part of the deal.
Corporate and EC/VC partner Andrew Merken led the Burns & Levinson acquisition team, with support from corporate associate Naveed Cheraghchi.
The Series A financing follows the spin-off of NetBox Labs from NS1, which was recently bought by IBM. NetBox Labs is co-founded and led by Kris Beevers, former CEO of NS1, with NetBox Lead Maintainer Jeremy Stretch also serving as a co-founder.
The NetBox Labs team includes former NS1 executives in finance, operations, technology, product, and business development, as well as more than a dozen devoted team members. The company’s headquarters will be in New York City, with a global, remote workforce.
NetBox Labs will be able to scale development and delivery of open source NetBox and NetBox Cloud, a hosted NetBox solution with specified performance and service level agreements as well as commercial support, thanks to the Series A funding.
Several customers, including Chewy, Dartmouth College, and Constant Contact, already use NetBox Cloud as a network source of truth to power their network automation strategy. NetBox Cloud, which offers intro, standard, and enterprise options, reduces the administrative burden involved with hosting and managing enterprise-grade NetBox instances while also adding capabilities for dependability, security, compliance, and more.
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