Be one of the first to announce that you have an app for the iPad and the venture capital people come running with their pockets wide open. Ok, so maybe that's not why Box.net (news, site) just secured US$ 15M Series C Funding, but it's a nice thought isn't it?
The Gist of the Funding Deal
The US$ 15 million Series C funding was led by Scale Venture Partners and also included existing investors Draper Fisher Jurvetson and U.S Venture Partners. Since its creation in 2005, Box has scored a total of US$ 29.5m. A very nice sum indeed.
A new member of the Box Board of Directors also comes with the new funding: Rory O'Driscoll, Managing Director from Scale Venture Partners.
Says O'Driscoll of Box:
Box.net has established a leadership position by challenging and redefining traditional enterprise content management, and is poised for aggressive growth going forward. I look forward to working with Aaron and his team as the company continues to build market share across market areas and geographies."
Cloud Content Awesomeness
Some phrases are had to ignore aren't they? That's why Dylan Smith, CFO for Box says they are going to provide with the help of this new funding.
All fancy phrases aside, Box is working hard to make its place in the world of cloud-based content management. This has included their new iPad app, as well integrations with other cloud-based services Google Apps and SAP StreamWork.
Whether you agree with Box or not on this cloud content management topic, they are doing something right. With over 4 million users and businesses and some record revenues under their belt, they are gaining more attention and will be a company to watch.