Box.net, a company that provides online storage and collaboration software, got $48 million investment to upgrade its infrastructure and hire more employees to fuel its growth. Meritech Capital Partners, along with Emergence Capital Partners and Andreesen Horowitz pledged $38 million equity investment, while Hercules Technology Growth Capital Inc. promised a $10 million investment.
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AMagillThe trend of companies storing their data online, and employees collaborating online, is catching up, and Box.net, based in Palo Alto, California, needed the investment money to expand and corner a major chunk of the growing market that has, until recently, been dominated by computer giants like Microsoft and Oracle.
Box.net has over 60,000 customers and it aims to use the $48 million investment add 60 engineers and marketing execs, and develop new products.
February 25th, 2011 in
ETF News |
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