Box Raises $125M in Funding
Box, a Los Altos, CA-based provider of secure content sharing platform, has raised $125m in funding.
The round was led by General Atlantic (GA), which invested $100m, with participation from existing backers Bessemer Venture Partners, DFJ Growth, New Enterprise Associates, SAP Ventures and Scale Venture Partners, as well as new investor Social+Capital Partnership.
The investment, which is still subject to regulatory approval, is expected to close in the next 30 days.
The company intends to use the capital to fund its enterprise customer base, which currently includes large enterprises like Procter & Gamble, DreamWorks, AAA, McAfee, Netflix and Random House, expand globally, and continue to develop its technology.
In conjunction with the funding, Gary Reiner, operating partner at GA and former CIO of General Electric (GE), has joined the company’s board of directors.
Founded in 2005 by Aaron Levie, CEO, Box lets users and IT store content online, so they can access, manage and share it from anywhere. The solution can be integrated with Google Apps and Salesforce and accessed on mobile devices. In the last quarter, Box expanded operations in Europe with the opening of a London office.
The company currently serves more than 120,000 businesses and individuals.
Box is massively hiring (https://www.box.com/about-us/careers/open-positions/).