NetBox Labs raises $35M Series B from NGP Capital, Salesforce Ventures, and IBM to build the backbone of AI infrastructure

There’s a race on to build smarter, faster, and more automated infrastructure—and NetBox Labs just picked up $35 million to stay ahead.

The New York-based startup announced its Series B round on Monday, led by NGP Capital, with participation from Sorenson Capital and Headline. Existing backers, including Salesforce Ventures, IBM, Two Sigma Ventures, Notable Capital, Mango Capital, and Flybridge, also joined the round.

We first covered NetBox Labs in 2023, shortly after it spun out of NS1, a network automation company acquired by IBM that same year. As part of the deal, IBM backed the spinout and became one of NetBox Labs’ early investors. The startup launched with $20 million in funding and a mission to take the open-source NetBox platform to the next level as a standalone company.

NetBox Labs Raises $35M to Build the Backbone of Modern AI Infrastructure

NetBox Labs is best known for its role as the commercial steward of NetBox, a popular open-source network and infrastructure management platform. What started as a niche tool has quietly become foundational for thousands of IT teams across enterprises, AI companies, and government agencies. It’s now a go-to system of record for infrastructure—used by companies like CoreWeave, ARM, Cisco, J.P. Morgan, and Riot Games—to keep networks running smoothly and deployment timelines on track.

“There’s a race to expand and modernize the complex infrastructure that keeps every aspect of today’s digital world quick, resilient, secure, and manageable,” said Kris Beevers, co-founder and CEO of NetBox Labs. “NetBox is now a ubiquitous platform at the heart of a composable network and infrastructure management stack, with adoption soaring even more as AI drives massive demand for infrastructure.”

That surge in AI infrastructure demand is central to why investors are doubling down. CoreWeave, which builds AI data centers, says using NetBox Cloud helps shave weeks off deployment timelines—a speed that directly affects revenue. “Deploying our infrastructure even a month sooner as a result of these efficiencies directly impacts our revenue,” said Jim Julson, head of network at CoreWeave.

This new round follows NetBox Labs’ $20 million Series A raise in 2023. The company says it will use the fresh capital to scale its operations globally, continue product development, and grow its team across engineering, customer success, product, partnerships, and sales. Over the past two years, the company has quadrupled in size and now operates with a globally distributed team.

NetBox Labs’ commercial portfolio includes not just the flagship NetBox platform but also tools like NetBox Discovery for device detection, NetBox Assurance to flag infrastructure drift, and NetBox Operator, an AI-powered automation platform for network teams.

Upal Basu, Partner at NGP Capital, said the investment reflects a belief that NetBox Labs is well-positioned to become the default platform for network observability, automation, and security. “Every infrastructure team in the world knows NetBox,” Basu said. “Their impressive commercial growth validates our belief that they can become the de facto platform for network operations.”

With major companies pouring billions into AI infrastructure, the need for faster, cleaner, and more automated network management is only growing. NetBox Labs appears to be right in the middle of that buildout—quietly doing the heavy lifting behind the scenes.

NetBox Labs NetDevOps Days