Today, I'm excited to announce that Box has acquired Subspace, a startup focused on enabling secure access to data and applications on the web, mobile, and in desktop environments. Subspace has been working for two years to build world-class security technology to help individuals work from anywhere, while meeting the needs of the most regulated enterprises and security-conscious organizations. They pioneered the use of containerized browser technology for managing access to valuable content from the rapidly growing variety of corporate and personal devices used in the workplace. At Box, the seven person Subspace team will be advancing our data security efforts.
The proliferation of cloud and mobile technology has produced immensely powerful tools for individuals to do their jobs better. New services are available on-demand and work from every device, making people dramatically more productive and saving significant IT costs in the process. But as enterprises have embraced these technologies, data has become more fragmented across a range of devices, as well as accessed from a variety of networks, making the protection of content exponentially more difficult.
Imagine, for instance, a global manufacturer needing to share data on a new product with its supply chain around the world, but needing to also prevent content from ending up on a compromised computer. No matter where data travels, and what device it ends up on, enterprises need to be able to control the access permissions and security around it.
To solve this challenge, businesses are left with few good solutions. Especially in regulated industries like financial services, healthcare and life sciences, CIOs and CISOs can generally find software that supports compliance and control requirements, but that also introduce complicated workflows in the process. As a result, users bring in consumer tools to do the job instead, leaving the organization ultimately less secure. At Box, we see this as an unnecessary sacrifice. Our customers like Eli Lilly, T Rowe Price and Nationwide Insurance need solutions that can keep them protected, but that also drive their productivity forward.
The Subspace team has been thinking about these same challenges for years, and we're excited for their leadership in taking Box's efforts to the next level. We've already made significant traction with capabilities like Box's native Information Rights Management, which allows for preview-only access to content, watermarking, download statistics, and other advanced policies, ensure that content can be shared easily with the right people, without losing control. The Subspace team will let us go even deeper with our security and data policies, enabling reliable corporate security policies, even when content leaves the Box platform to be accessed on a customer or partner's device. We're excited to continue to innovate in the security space for our customers, so stay tuned for more news!