Sloane ChildPrincipal
BackBox Closes $32 Million Growth Investment from Elsewhere Partners
Elsewhere Partners is excited to announce its $32 million Series A investment in BackBox, a market leader in network automation, security, and management solutions based in Tel Aviv, Israel. As part of the financing, seasoned software industry leader and Elsewhere Partners Operating Advisor Andrew Kahl was appointed as CEO of BackBox and the Company will re-locate its global headquarters to Dallas, Texas.
BackBox provides its customers with an intelligent automation platform, designed as a single, centralized solution to manage all security and network devices. With this single view, BackBox helps companies more effectively streamline complex tasks, ensure network performance and security, and do more with fewer resources.
BackBox currently works with nearly 200 partners, including CheckPoint, Cisco, F5, and Palo Alto Networks, among others, and supports more than 1,000 device types with its intelligent automation solutions.
“There is unlimited potential to expand BackBox’s market reach as network environments become more complex and IT constraints continue to evolve,” said Kahl. “I am thrilled with the opportunity to work with the BackBox co-founders and Elsewhere to help lead the next phase in the company’s journey – becoming a global leader in network automation solutions.”
“The go-to-market expertise Elsewhere Partners and Andrew bring will be a winning combination for BackBox,” noted BackBox Co-founder and CTO Rafi Zvi. “Their dedication to customer success and experience scaling software companies will help BackBox continue to grow.”
BackBox will use the infusion of capital to build out its global team, rapidly scale its offerings and increase its market reach across the United States and EMEA via strategic channel programs. Prior to Elsewhere’s investment, BackBox was bootstrapped by its two co-founders.
BackBox will focus on more effectively addressing increasingly complex corporate network environments (e.g., hybrid, multi-cloud) to meet growing distributed workforce needs, enhancing its network vulnerability detection and remediation functionality, and expanding its cloud automation and SaaS capabilities.
For more information about the investment, read the full press release.
About the Author
Sloane Child
Sloane is a software investor at Elsewhere Partners where she focuses on diligence, deal execution, and portfolio value creation. Previously, Sloane worked in Business Operations for a VC-backed startup and invested in business services companies at General Atlantic. A native Texan, Sloane is passionate about bringing capital and operational expertise to software companies outside of traditional venture hubs.