Box.net receives $50 million in investment (Dr SaaS)

"Cloud" storage provider Box.net has received a new round of financing of $50 million from investors such as Salesforce, according to foreign media reports September 29.

Box.net past investors have also been involved in a new round of financing. Finally, under the leadership of the CRM giant Salesforce.com, Box.net finally received $50 million in new investment funds. Box past investors include Andreessen Horowitz, Draper Fisher Jurvetson, emergence capital Partners,meritech Capital Partners, scale Ven Ture Partners and U.S. Venturepartners. A new list of investors will be revealed at a later date. After this round of financing, Box.net has received a total investment of $128 million.

Box.net is a company that provides "cloud" storage services for businesses. The company has 7 million registered users so far and has saved more than 3 billion documents. However, box.net after years of development is no longer a simple document storage company. The company also offers the same features like Salesforce, Google Apps, NetSuite, Yammer and other products, such as document updates, remote synchronization, and remote collaboration.

Box.net was founded in 2005 by Allen Li Wei (Aaron levie) and Delain Smith (Dylan Smith) in their dormitories. The original purpose of the site is to facilitate the user's sharing of content and access to it from anywhere. Today, the company has a storage solution for 77% of the world's top 500 companies. This year, Box.net also reached the largest "cloud" service deal since its inception with Procter and Gamble.

Box.net an average of 200,000 new users per month, and every two quarters, the size of the enterprise deployment doubles. More than 1000 companies become subscribers to new Enterprise Services every month, and Box.net believes the company's 2011 installation on mobile devices will grow by 600% a year.

CEO Levi said in a video interview that the future of enterprise software will revolve around personal, social and intelligent. Specifically, software will become a tool for connecting users and content, users accessing content through software, and helping businesses make decisions faster and more accurately to increase productivity.

Andreessen Horowitz and some other investors had injected Box.net $48 million earlier this year. CEO Levi said this is because of the company's outstanding performance and good performance in the "cloud" market. After the box.net became an expensive acquisition object.

As a partner, Salesforce says two companies are betting on "cloud" services. Box.net integrates Salesforce's corporate social platform into their products, and says there will be deeper product collaborations in the future. Levi says most of Box.net's users are also users of Salesforce.

Levi explained that, given the potential of the "cloud" market, the company did not need to finance it, but Box.net intends to prepare for a burst of market growth. Therefore, the new funds will be used to improve the installation of basic equipment, as well as research and development personnel recruitment. The company does not have a takeover intention at the moment, but Levi also said the company would take into account if there were suitable targets.

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Box.net receives $50 million in investment (Dr SaaS)