Monday, October 10, 2011

Box.net Raises $81 Million for its Cloud Storage

Box, a start-up based in Palo Alto, California, raised $81 million in a Series D Expansion round of funding.


Box offers a cloud-based storage service that has attracted 7 million individuals and 100,000 businesses. The company reports 250,000 new users per month.


It notes significant traction in the enterprise, with adoption in 77 percent of the Fortune 500, and large deployments with companies including AAA, Amylin Pharmaceuticals, and McAfee, as well as an 18,000-seat deal with Procter & Gamble. Box has also rapidly scaled its team from 125 to nearly 300 employees in 2011 to date, including key senior hires from companies such as Cisco, EMC, Microsoft, NetSuite, and Oracle.


The new funding came from strategic investors salesforce.com and SAP Ventures, along with Bessemer Venture Partners, NEA, and prior investors including Andreessen Horowitz and Draper Fisher Jurvetson Growth. The new investment brings Box's total capital raised to $162 million.
http://www.box.net

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