NetBox Labs, a leading provider of open-source network management solutions, has secured $20 million in funding to develop an automated network management solution. The funding round was led by venture capital firm Insight Partners, with participation from existing investors DCVC and Upfront Ventures.
The new funding will be used to accelerate the development of NetBox Labs’ open-source network management platform, which is designed to help organizations automate and streamline their network operations. The platform is built on top of the NetBox open-source project, which provides a web-based interface for managing network infrastructure.
NetBox Labs’ platform is designed to help organizations manage their networks more efficiently by automating routine tasks such as device discovery, IP address management, and configuration management. The platform also provides a centralized repository for network documentation, making it easier for IT teams to collaborate and share information.
The platform is built on top of the NetBox open-source project, which has been widely adopted by organizations around the world. The project was started in 2014 by Jeremy Stretch, a network engineer who was frustrated with the lack of open-source network management tools available at the time.
Since then, the project has grown into a thriving community of developers and users who contribute to its ongoing development. NetBox Labs was founded in 2018 to provide commercial support and services for the NetBox project, and to develop additional features and functionality for enterprise customers.
The new funding will enable NetBox Labs to expand its team and accelerate the development of new features for the platform. The company plans to focus on areas such as automation, analytics, and integrations with other IT systems.
“We’re thrilled to have Insight Partners lead this funding round, and we’re excited about the opportunities it will enable us to pursue,” said Matt Michie, CEO of NetBox Labs. “Our goal is to make network management easier and more efficient for organizations of all sizes, and this funding will help us bring that vision to life.”
The market for network management solutions is expected to grow rapidly in the coming years, as organizations increasingly rely on complex networks to support their operations. According to a report by MarketsandMarkets, the global network management market is expected to grow from $7.5 billion in 2020 to $11.0 billion by 2025, at a compound annual growth rate of 7.9%.
NetBox Labs is well-positioned to capitalize on this growth, with its open-source platform and focus on automation and efficiency. The company’s new funding will help it continue to innovate and expand its offerings, and to meet the growing demand for network management solutions in the years ahead.
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