Tuesday, March 8, 2011

Enterprise cloud storage platform Box.net raises $ 48 M of Andreessen Horowitz and other

Cloud storage and collaboration startup that box.NET raised $ 48 million in new financing led by Meritech Capital Partners with Andreessen Horowitz, emergence Capital Partners, Draper Fisher Jurvetson, scale Venture Partners and us Venture Partners. This brings the company's total financing of $ 78 million.

Over the past four years, has evolved from a cloud storage platform for a simple collaborative company, offering social and mobile resources. The company now holds 300 million documents on their platform (more than the library of Congress) and garnered 5 million users (over 4 million last year).

Corporate clients include DreamWorks, Cisco and Dell and 60000 other companies or 73% of the Fortune 500, use the box to share, access and collaborate on content business online as well as iPads, iPhones and Android devices. In fact, the box has seen 400000 downloads for your Android applications and iOS.

A month ago, cash released a new version of your application storage, with a new UI, document viewing experience seamless and more collaborative features around document storage and file sharing. Box also added a market application that include applications of Salesforce, Google Apps, NetSuite, Yammer and others. And last year storage plans, file synchronization and more platform box.

So how is the performance in terms of sales? CEO and co-founder Aaron Levie says box tripled revenues in 2010, what it says it was in the range of eight figure, and he fully expects to double, triple or even quadruple the number this year. While the company is not, yet, positive cash flow, Levie says that the box is approaching this goal.

Levie clearly has great ambitions for box. First and foremost, Box.net wants to take on Microsoft Sharepoint and has aggressively campaign for existing Sharepoint users switch to cheaper, simpler company. Levie says: "box is positioned to redefine an industry, both as Salesforce.com has done for CRM and NetSuite for ERP ...We want to bring cloud content management box for companies of all sizes, around the world ... "

Box plan to use the funding to hiring talent and will fold the engineering teams and sales this year (currently has 140 employees). Levie plans to make some small purchases next year. The funding will also be used to construct a new data center on the East Coast. Box operates currently two data centers in California. And the company plans to aggressively push sales outside the u.s. and increase international features. Today, companies outside the United States represent 15 percent of the customer base of the box.

We sat down with Levie a few weeks ago to talk about the future strategy of the mobile platform and the war for talent.

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