NetBox Labs, an infrastructure management startup, raised $35 million in Series B funding in July, led by NGP Capital. It shared its pitch deck with Business Insider.

New York City-based NetBox Labs was cofounded in 2023 by CEO Kris Beevers as the for-profit steward of 10-year-old NetBox, an open-source network and infrastructure platform used by tens of thousands of companies globally.

NetBox Labs offers five products built on top of the open-source software with advanced features to make it easier to run, Beevers said, including additional security and support, automation tools, and an AI assistant.

It makes money by charging subscriptions based on the tools used and the size of a client’s infrastructure.

Sorenson Capital and Headline participated in the round, as did existing investors Flybridge Capital, Notable Capital, Mango Capital, Salesforce Ventures, Two Sigma Ventures, and IBM. The company had previously raised $20 million in Series A funding.

AI is fueling demand for infrastructure services, and NetBox Labs’ revenue is in the single-digit millions, Beevers said. It reinvests a “big chunk” back into the open-source tool.

The company has roughly 200 customers, including AI data center giant CoreWeave, for whom it helps manage data center configurations and design future facilities.

It also works with non-AI-focused companies, whose infrastructure has become more complex and dynamic amid ongoing digitization in recent years, Beevers said.

This includes departments of transportation across the country — managing toll booths, speed cameras, and more— as well as ARM, Cisco, Constant Contact, J.P. Morgan, Kaiser Permanente, and Riot Games.

The investment will be used to hire across engineering and sales. Beevers said the company will surpass 100 employees this year.

Beevers previously served as the cofounder and CEO of NS1, which spun out NetBox Labs after selling the other part of its business to IBM in 2023. Jeremy Stretch, the creator of NetBox, also serves as a cofounder at NetBox Labs.

Here’s a look at the pitch deck the startup used to raise its $35 million Series B. Certain slides have been edited and removed so that the deck can be shared publicly.