Box confirms it has raised US$100m in latest funding round

6 Dec 2013

Box CEO Aaron Levie

Cloud player Box’s CEO Aaron Levie has confirmed that the company has just raised US$100m in investment in a round involving Itochu Technology Ventures, DST Global, Mitsui & Co, Telefónica Digital and Telstra.

The aim of the investment is to bring Box’s content collaboration platform to new markets.

The company has signed commercial agreements with Itochu Technology Ventures, Macnica and Mitsubishi to spearhead Box’s entry into the Japanese market.

The investment brings the total amount of funding raised by Box so far to US$400m and values Box at estimated US$2bn.

“At Box, one of our biggest strategic focuses is working to support and reach enterprises everywhere in the world,” Levie said in the Box blog.

Box targets new markets

“Today, the service is translated into 13 languages beyond English — with many more to come — and we’re used by millions of individuals at businesses around the globe. In fact, users outside the US account for roughly 40pc of our activity.

“In 2012, we opened our first international office in London. Today, we have a team of 90 people throughout Europe bringing Box to customers like Schneider Electric, Gatwick Airport, and Hounslow Council, and working with partners like Deutsche Telekom and EE. Many other markets are also in the midst of this transition — and in some cases, just beginning it.

“This is a once-in-a-generation technology shift and an amazing opportunity for Box to help businesses everywhere navigate it. We’re excited to take what we’ve learned in the US and Europe and – combined with many insights from industry peers – apply it to new regions,” Levie said.

In terms of Box’s focus on the Japanese cloud market, which is estimated to be worth US$3bn by 2017, Levie said Box will be working with some of the biggest systems integrators in Japan, Macnica and Mitsui.

Similarly, he said, Telefónica and Telstra will play a role in bringing Box to the Latin American markets, where cloud will be worth US$8bn by 2016.

Video interview with Box’s Aaron Levie

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years