Box confirms $100M funding for expansion beyond US
Cloud storage company Box confirmed it had secured USD100 million in a new round of funding. The round gives the firm a USD2 billion valuation, wrote TechCrunch.
Box has been a very well capitalized company. TechCrunch previously reported that the firm raised USD125 million last year and another USD25 million earlier in 2013. The tech news site also said new round would bring the company's total funding to over USD400 million. Box famously rejected a USD600 million acquisition bid from Citrix two years ago, the report detailed.
The cloud storage firm said its customer base is 60% US-based. But the company announced today that it had inked commercial deals with Japanese firms to accelerate its global expansion. Box hired Katsunori Furuichi, former Chief Executive Officer of Verisign Japan, to head the firm's expansion efforts, the report stated.
Moreover, Box is striking partnership deals with companies in Australia and Latin America. Those firms provided the company's new capital. Facebook investor DST Global and hedge fund Coatue also participated in the said round, TechCrunch reported.