NetBox Labs Raises $35M to Scale the Infrastructure Stack for AI

In 2024, global data center capital expenditure rose 51% to $455 billion, according to Dell’Oro Group. That surge is largely driven by the buildout of AI-native infrastructure (See OpenAI’s Stargate, xAI’s Colossus), which meant a shift in compute power, along with how networks themselves are designed, deployed, and maintained. For many of the companies that are part of that shift, including hyperscaler CoreWeave, a key enabler has been NetBox Labs.

Founded as a commercial steward of the open-source NetBox project, NetBox Labs develops a platform for network infrastructure management, essentially replacing the spreadsheets and manual processes that many organizations still rely on. This week, the company just announced a $35 million Series B led by NGP Capital, bringing its total funding to $55 million since it spun out of DNS provider NS1 in early 2023.

NetBox aims to act as the authoritative source of truth for network infrastructure. The product models how infrastructure components are connected: from an IP address on an interface to that interface’s location on a rack-mounted switch. That structured data model powers a range of additional tools, including NetBox Discovery, which continuously scans and updates infrastructure records, and NetBox Assurance, which flags when deployed infrastructure drifts from intended configurations.

For customers like CoreWeave, which is building dozens of AI data centers a year, that kind of automation is directly tied to revenue. “NetBox is crucial for accelerating our timelines with automation,” said CoreWeave’s head of network, Jim Julson. “Deploying our infrastructure even a month sooner… directly impacts our revenue.”