Tuesday, July 31st, 2012

Why Box Is Raising $125 Million to Change the Enterprise

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“Computers in the future may weigh no more than 1.5 tons.” – Popular Mechanics, 1949.

We’re at the beginning of a transformative and discontinuous shift in the enterprise landscape. The confluence of mobile, social, and cloud technology is changing how businesses of all sizes manage their information and where they can access their data, challenging longstanding enterprise software status quos in the process.

Much like the transition from mainframes to minicomputers in the ‘60s and ‘70s extended the computing market beyond the world’s largest enterprises, and the move from minicomputers to PCs in the 80s and 90s gave rise to the knowledge worker, this shift brings entirely new capabilities to an expanded audience – and audience that will include 1.3 billion “mobile workers” by 2015. And as a substantial portion of the $280 billion spent on enterprise technology each year moves to the cloud and unseats legacy services, it creates a window for new players to emerge and define this next wave of solutions.

Which is why we’re excited to share that we’re investing aggressively and enthusiastically in the future of Box and the future of our customers. We’re taking on a $125 million investment round, led by General Atlantic (GA), and welcoming Gary Reiner, an investment partner at GA and former CIO at General Electric, to our board of directors.

The speed of change and disruption in this industry has never been faster, the competition has never been fiercer, and we’ve never been more excited about what’s ahead. When we started Box as an all-purpose cloud storage solution in 2005 and later narrowed our focus to serving businesses in 2007, we had a hunch that the opportunity was big. Now, years later, we’re truly realizing just how vast and important the market is for helping businesses of all sizes to manage information and collaboration in the cloud.

I’d like to take a moment to share our strategy for how Box will continue to innovate and compete going forward, fueled by this new financing and GA’s impressive network:

  • Building Unparalleled Technology: Our mission is to build the simplest way for users to share and manage content, on a secure platform that businesses trust. You’ll see us invest heavily in creating an amazing end user experience with all-new ways to interact with and collaborate on content, while also continuing to ensure that we provide the security and administrative capabilities that enterprises require. And of course, we’re going to continue to build for and support every mobile platform that our customers want to work from. We have an exciting slate of upcoming technology, with more innovation in the next few quarters than in our entire company’s history.
  • Global Expansion: The amazing advantage of cloud solutions is they’re international on day one. We pride ourselves on serving a global customer base – 20% of our revenue, and nearly 50% of our activity is outside of the US – and we’re focused on significantly expanding out international efforts. Just last month we announced our entry into Europe, but this is just the start. We’ll be bringing operations to new regions, as well as technology that improves the performance of Box for our distributed customer base.
  • Supporting Large Customers: As we continue to work with companies like Procter & Gamble, AAA, and McAfee, MGM, and Random House, our support and service capabilities have begun to expand commensurately. The addition of Gary Reiner, GE’s former CIO, to our board brings an additional, unique view of the needs of these enterprises to Box. We’ll continue to make dramatic investments in serving our increasingly larger customers – from technology to product to and integration services.
  • Expanding our Ecosystem: The Box platform is one of the most critical and high growth components of our business. Box’s APIs are used by over 10,000 developers, and we work with hundreds of leading commercial applications, including over 100 OneCloud apps across iOS and Android. Our partners, apps like PlanGrid (enabling construction workers to pull down blue prints on tablets) and CloudOn (streaming Microsoft Office to your iPad), are instrumental to facilitating the Post-PC enterprise. We’ll continue to aggressively build out our platform capabilities, ecosystem partnerships, and efforts to make sure Box partners are successful in entering the enterprise with us.

If Microsoft’s vision was to put “a computer on every desk and in every home,” then the vision of Box (and the post-PC movement more broadly) is to get the right information into every individual’s hands. We believe that companies with cloud, mobile and social in their DNA are best positioned to serve the increasingly dynamic needs of today’s enterprises. We’re just a fraction of the way into a shift that is going to dramatically remake today’s enterprises, as well as the vendors that serve them. We’re excited to be among a generation of incredibly transformative companies like Workday, Yammer, Atlassian, Salesforce, GoodData, Domo, Jive, Netsuite, SuccessFactors and Zendesk.

There’s nothing short of a revolution going on in enterprise software today, and we’re inspired and humbled to be on this journey with wonderful colleagues, customers and partners. We’re determined to prove that innovation is possible in the enterprise, and that software – along with companies – can be built differently in this new era.

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  • Bob Scirpo

    +1,000

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  • Vera Svechina

    I need help to get my money from Tim Cook. Im apple logo… since 1977. Google Facebook…. Zynga own me money……

    Steve Jobs said before he died……

    Mafia from russia did crime. tried to kill me in my apt. in SF. I went to police and FBi they didnt help.

    Ugly wife of Brin wojcicki stole my macy’s card number. they tried to kill me…..

    after I got Oscar nomination in 2009. and after I met mick jagger and went to paul allens boat Octopus that made from My jacket. Mafia tried to kill me after that.

    mafia from russia. after they killed jackson yaponchik….. I heard shakro……do you know?

    same time steve jobs was dying…… they tried to kill me. Killed actress in LA. pigozzi turned up to be rapist….. he got on my address and they tried to kill me and mafia zhukova and abramovich killed my relatives… putin… and mafia medvedev… ugly band bering straight…..

    what I do? Do you know someone in Russian Conculate who can help me get together with tim cook. They knew Apple will pay me and Disney … for that not to happen they killed steve job

    mafia from russia put inside me something..

    what it’s I dont know…… I hear mans voice. They made me disabled for 3 years….

    putin criminal…. medvedev criminal….. I got oscar nomination and Nikita Mikhalkov thought it’s his film… but it was mine… mafia from russia ugly….. Barack not desurving his place. now.

    Police not working. FBI not working. His wife is ugly. Prohorov criminal.

    I have no place in SF now to stay and no money.

    after barack obama’s elections they ( russian mafia) killed my relatives….

    My house 33 (my mothers in Disneyland since 1967) and my Northern Teritories. ( VERA’S NOBEL PRINCE. end of ownership problem war…) Maifa is ugly , they tried to kill me…….

    If you know someone who can help me to meet Tim cook…. They put ugly royals and rich mafia on my time and place hoping I will never get married and never will have children. They full of shit. I dont know who that mafia is. Im already 39. They started to killing me at 36.

    Please let me know. Or if you know where I can help with place to stay in sf… it would be great. Just for couple of weeks. russians are super ugly…..

    see:

    verasvechinalife.blogspot.com

    • Vera Svechina

      nobel price ….

      I was attacked in My apt. 5 25 stockton 403 in 2009 ….. and I found out that jean Pigozzi did crime and went on my time to TED. in 2003. he also got island in Panama from My mothers hat when I was in JAPAN… and mafia tried to kill me and pigozzi himself and mick jagger took advantage of me as well…. They killed hercules bellville and my father.

      Im Apple logo model and I was supposed to get stock since 1977 … Instead they gave cancer to Steve jobs and tried to kill me same time he was dying….

      I also needed to meet Sergey Brin,Larry Page, Bill Gates… because ted was made for me…… when I was 11 years old. Many people are jealous….

      Now That mafia from russia tried to kill me and I had to move out from My apt. in SF. They made me disabled for 3 years…. trying to convince me in nonsense….

      I have no place to stay and I need help to contact tim cook. I have no money…..also because I cant work….now…

      Do you think you can help me out? I never got paid for being Terravera’s Vera….. google apple…. facebook farmville….. wojcicki is criminal and she stole my 23 and me… There is many companies been made and many films… I dont know why they think they can use me for free… without respecting law. Because Im from Russia?

      there was no Jannet hill..I was living on that hill Stockton and Pine and mafia attacked me…..

      I went to police… Not much luck…. I went to FBI…. Criminal Coppola and Pigozzi went on my time in Tokyo 2003 and they killed many of my relatives.

      My rights as Apple logo model are not protected at all. And I need to get paid. Steve jobs said Apple owns me 10 billion in stock since 1977.

      I look forward to hear form you. Im already 39. I need help with that issue…..

      I want to live my life. I dont like lady gaga from my trip to japan… I don’t like products and disney films they make without asking me….

      Im woman… they started to kill me at 36.

      I want to go to russia…. to visit my mother.

      Please see: verasvechinalife.blogspot.com

      I look forward to hear from you.