Cloud Storage Vendor Box Receives $125M Investment, Targets The Enterprise

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Box also announced Tuesday that Gary Reiner, operating partner at General Atlantic and a former CIO of General Electric, has joined its board of directors.

Private Equity company General Atlantic invested $100 million in Box, with the rest coming from Bessemer Venture Partners, DFJ Growth, New Enterprise Associates, SAP Ventures and Scale Venture Partners, as well as Social + Capital Partnership.

Last year, Box raised $81 million in venture funding from investors including and SAP Ventures.

Box said that in the first six months of 2012, enterprise sales increased 200 percent year over year, with the average deal size nearly doubling.

In the second quarter, the company increased its presence in Europe by opening a London office, along with a third data center.

More action is planned.

“In addition to building sales and professional services teams to serve Europe, we are also localizing our site and plan to soon deploy IT infrastructure improvements to boost the performance of Box outside of the U.S.,” Box's Tidmarsh Bouck wrote. “Once we establish a good operating rhythm and blueprint in EMEA, we'll begin expanding into other markets like Asia.”


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