Box, the US-based cloud storage company that filed for a $250m initial public offering in March, raised $150m yesterday from investment firms TPG and Coatue Management.
Box has now raised approximately $594m in funding since it was founded in 2005, including $100m in a January 2014 round which included conglomerate Itochu, telecommunications companies Telefonica and Telstra, and electronics producers Macnica and Mitsui.
Other past investors include software companies SAP and Salesforce.com, semiconductor manufacturer Intel, Draper Fisher Jurvetson, U.S. Venture Partners, General Atlantic, Scale Venture Partners, Bessemer Venture Partners and Meritech Capital Partners.
Box has established a cloud-based content storage platform with more than 27 million individual users. It did not disclose how it plans to use the latest funding.
Bryan Taylor, a partner at TPG’s Technology Group, said: “Box has established a strong leadership position in the transition to the cloud, and we are confident that the company can continue to scale.”
TPG, which made the investment through growth equity subsidiary TPG Capital, will appoint a representative to Box’s board of directors as part of the transaction.