Box Scores Big in Latest Round of Funding
The cloud computing industry is dominated by a few big names – Amazon, VMware, NetSuite, Salesforce, Dropbox, and, of course, Google always seem to take over the majority of the conversation.
However, somewhat quietly in the background, Box has been carving out its own space. The company offers simple and secure online file sharing, centralizes mobile data for customers, offers social workflow features for cloud collaboration, possesses the ability to cross-platform sync content for enterprise organizations, and even has customization options that make it compatible with a customer’s existing cloud infrastructure and applications.
It’s no wonder that major brand names like Clear Channel, Taylor Made, Procter & Gamble, and over 92 percent of Fortune 500 companies have adopted the Box platform.
And it looks like the company may soon be able to expand even further, as it just raised a startling $125 million in funding, led primarily by the General Atlantic investment firm. Other contributors were Bessemer Venture Partners, DFJ Growth, New Enterprise Associates, SAP Ventures, Scale Venture Partners, and Social+Capital.
Box has been experiencing record growth for some time now, with sales increasing by 200 percent year-over-year. In fact, the company doubled in average size during the first half of 2012. It also opened an office in London recently, which signifies a committed interest in expanding globally. With this huge increase in funding, it’ll be exciting to see what the company does next, and if it can propel itself into the upper echelon of cloud service providers.