For the second year in a row, Box has been named a leader in the "Magic Quadrant for Enterprise File Synchronization and Sharing" report. We are delighted that Gartner recognized Box for the ability to execute and outperform in the EFSS market. It's rewarding to be recognized for a compelling vision and credited with delivering innovations that help enterprises to enable the digital workplace any time, anywhere by solving their core content collaboration, security, and governance challenges. Please read the entire report here for more details.
2015 was an exciting year. We benefited tremendously from cloud scale in customer acquisition and company performance, adding 13,000 new customers in one year to reach 47,000 paying organizations today and growing the business 74% year over year to $216 million in revenue. In particular, we have seen great momentum among CIOs running critical business processes in large and heavily regulated enterprises in Financial Services, Healthcare and Government. Among the new customers we added in the past year, we are deployed globally and extensively across these companies to name a few: GE, World Bank Group, AstraZeneca, Eli Lilly and Company, The Gap, eBay, Boston Scientific, Nationwide Insurance, Toyota Motor Sales, USA, Inc, US Department of Justice, and UK Government Digital Service.
We were also able to deliver on key innovations for improved visibility, direct control, and content management for enterprises with the introduction of Enterprise Key Management; policy driven Retention Management; simplified ways to build custom apps with Box Developer Edition; and key strategic partnerships with Microsoft and IBM. With our Microsoft partnership, customers are already getting a ton of value from the seamless user experience between Office 365 productivity tools and Box across desktop, web/online and mobile platforms.
Per Gartner's report, “organizations with more complex requirements — in terms of multiple use cases, integrating many data repositories, data governance, collaboration and business processes — tend to consider EFSS destination offerings.” ('Destination offering' is Gartner's term for best-of-breed standalone vendors in EFSS.)
The EFSS market is nearly a billion dollar market.1 Most of the $587.4 million in net new spending for 2014 was captured by cloud vendors such as Box, Microsoft and Dropbox. We're thrilled to see validation from across the analyst community not only on Box's execution and technical solution for the EFSS market, but also as a undisputed market share leader in this space. The analyst recognition extends across EFSS, Cloud File Sharing and Mobile Content Management. Box is positioned as a Leader in the "The Forrester Wave™: File Sync and Share Platforms, Q3 2013", InfoTech Research's “Vendor Landscape: Cloud File Sharing 2014," Aragon Research's Globe for Mobile Content Management, and IDC Research's "Worldwide File Synchronization and Sharing Market Shares 2014: Another Year of High Growth."
Again, you can download your own complimentary copy of this report here.
If you are interested in learning more about what we have to offer your business, come join us at our annual user conference, BoxWorks, on September 28-30 in San Francisco. Reserve your ticket today!