Box.net raises $81m of new funding
ox.net, a cloud-based document management company in Silicon Valley, has raised $81m of new funding in a deal that values the company at about $650m, according to two people familiar with the financing.
The investment reflects growing confidence in cloud computing services, which allow people to store and access information through web-based software, rather than physical hard drives or network systems.
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Box designs software specifically for businesses, allowing employees to share and access information from whatever device they are using, from any location. The six-year-old company positions itself in direct challenge to veterans in business-focused computing, such as Microsoft, Oracle, and IBM.
“Businesses of all sizes are moving their information and collaboration to the cloud,” said Aaron Levie, Box’s chief executive. “With this new capital, we’ll support their transition by continuing to aggressively out-innovate legacy players like Microsoft.”
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