Around the Net
Box.net Gets Another $15 Mill To Build Cloud
- TechCrunch, Wednesday, April 7, 2010 2:49 PM
Cloud storage and document sharing technology provider Box.net has raised $15 million on Series C funding led by Scale Venture Partners, along with help from existing investors Draper Fisher
Jurvetson and U.S. Venture Partners participating. The startup, which has now raised $29.5 million, didn't disclose the valuation for the round.
The funds will be used to further build out
the company's platform, and flesh out its sales and engineering staffs. Founded in 2005, Box.net has reported a 500% rise in revenue from 2008 to 2009, and a record first quarter -- up 300% from the
first quarter of 2009. Its success can be attributed to prized client acquisitions, including the Oprah Winfrey Network, Volvo, and Nokia Siemens.
