Box.net, a Palo Alto, CA-based provider of a cloud content management platform for small and medium sized businesses and large enterprises, has raised $48m in Series D funding round.
The financing includes $38m in equity from the new and existing investors (the round was led by Meritech Capital Partners, with participation from new backers Andreessen Horowitz and Emergence Capital Partners and existing shareholders Draper Fisher Jurvetson, Scale Venture Partners and US Venture Partners), along with a $10m commitment from Hercules TGC.
The company intends to use the funding to continue to hire (and double its team of 140 employees over the next 12-18 months) and expand its mobile platform and partner ecosystem.
Founded in 2005 and led by co-founder and CEO Aaron Levie, Box provides companies with a cloud platform to share, access and collaborate on business content online, and from iPads, iPhones and Android devices.
The company recently unveiled an all-new version of its service, with enhanced collaboration and real-time features and a simplified user interface.