Cloud storage solution company Box, which is targeted specifically at business and enterprise users has raised a substantial growth round of $125 million according to AllThingsD. The funding, which was lead by General Atlantic, with investment from Social + Capital Partnership as well as two institutional investors. All in all, the 7 year old company has raised an impressive $284 million to date, implying a valuation upwards of $1.2 billion.
According to Box’s official blog, the funding is believed to be put towards aggressive international expansion as well as the refinement and development of the company’s overall technology and multi-platform ecosystem. 20% of the company’s business and 50% of their activity currently comes from outside of theUS, and seeing as cloud computing makes international accessibility possible, there is definitely room to grow.
Box is also looking to cater to its large enterprise users as well; a list that already features impressive names ranging from MGM to Procter & Gamble. In order to aid these efforts, the company has added Gary Reiner, the former CIO at General Electric to their Board of Directors. His perspective as an executive at such a large and diverse company will bring a tremendous amount to Box as they take on the likes of Microsoft.
27 year old CEO Aaron Levie is excited about the direction his company is going as well as the end user interface that his team of 500 is able to provide. According to his post, the company’s API is already used for development by 10,000 plus developers in order to provide the best possible tools and services customized to meet the needs of its clients.
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