Box wraps up $125M investment to grow mobile collaboration platform
Box has closed a $125 million investment to expand its mobile collaboration and content-sharing platform to the overseas market. Growth equity firm General Atlantic contributed $100 million to the round, with operating partner Gary Reiner (formerly CIO at General Electric) joining the Box board of directors. Existing investors Bessemer Venture Partners, DFJ Growth, New Enterprise Associates, SAP Ventures and Scale Venture Partners also participated.
Box--available for mobile devices running Apple's (NASDAQ:AAPL) iOS, Google's (NASDAQ:GOOG) Android and Microsoft's (NASDAQ:MSFT) Windows Phone--leverages cloud-based technologies to enables user to securely access, manage and share files and related content. Box's mobile apps also integrate with partner applications like Google Apps, NetSuite and Salesforce.
Individual users can access Box services for free; small business pricing begins at $15 a month per user, with a host of customizable premium options available to enterprise customers. More than 120,000 businesses and individuals at 92 percent of the Fortune 500 use Box services; the company's enterprise sales increased 200 percent year-over-year during the first six months of 2012, and in recent months, Box opened a London office to expand its European operations in addition to a third data center.
Last week, Box signed an agreement to preload its services on Android and upcoming Windows 8 devices incorporating Qualcomm's (NASDAQ:QCOM) Snapdragon processors. The partnership also extends exclusive storage incentives like 50GB of free Box storage to Snapdragon-powered devices--in addition, Box will bundle its OneCloud productivity suite for Android free for Snapdragon customers.
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