Box Raises $81 Million, Plans To Scale Up

655

Box has announced the closing of a $81 million round of funding from NEA, Bessemer Venture Partners, salesforce.com, SAP Ventures and existing investors.

Aaron Levie ( Co-Founder, Box):  You have to get the timing just right, educate a confused market, and accept that payback may not come for some time.

Why raise that much capital? Aaron Levie, co-founder of Box writes in the company blog post that its all really, well, “it’s simple.” “Now is the time to scale,” he says. The company is also about to launch a new program, the Box Innovation Network, in November this year, he adds. 100,000 businesses already use Box, including 77 per cent of the Fortune 500 companies, says Mr. Levie.

Update: 04-19-13