Box Announces $125 Million in New Financing

Patch Staff

Internet technology company Box, based in Los Altos, has raised $125 million in new financing  to pump growth into its cloud-based storage operations.  

The funding round included $100 million from General Atlantic which will be used to expand the company’s enterprise customer base.

"The confluence of cloud, mobile and social technology is transforming how every enterprise and individual manages information today," Aaron Levie, co-founder and CEO of Box said in a company statement. "This new funding allows us to invest aggressively in the talent, technology and global expansion efforts required for Box to sit at the center of this shift and define the next generation of enterprise software."

As part of the deal, Box named Gary Reiner, an operating partner at General Atlantic and former CIO of General Electric, to its board of directors.

Founded in 2005, Box makes software for collaboration and file storage, and provides a secure content sharing platform for individual users, small business owners, and IT professionals.

The cloud based enterprise file-sharing and collaboration service was one of the fastest-growing private companies in 2010 and 2011 according to the Silicon Valley San Jose Business Journal and the San Francisco Business Journal.

 

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