Welcome!

News Feed Item

Box Announces $150 Million Investment from TPG Growth and Coatue

Box today announced a $150 million investment from TPG Growth, the middle market and growth equity investment platform of global investment firm TPG, and Coatue Management, L.L.C. As part of the agreement, TPG Growth will also appoint a director to the Box Board of Directors. Terms of the transaction were not disclosed.

"Our mission is to help organizations be more productive, collaborative and competitive by connecting people and their most important information. This focus has been instrumental in building a customer base that includes some of the most influential businesses in the world,” said Aaron Levie, co-founder and CEO, Box. “We’re excited to work with TPG Growth and Coatue as we continue to aggressively invest in our customers, technology, and future growth.”

Box today has more than 27 million individual users at more than 240,000 businesses globally, including 99% of the Fortune 500. Its customers include Chevron, Safeway, Pearson, Nationwide Insurance, and General Electric. Box also announced today that it was positioned as a Leader in Gartner’s first-ever “Magic Quadrant for Enterprise File Synchronization and Sharing (EFSS).” Box was evaluated among 19 vendors in the market on 15 criteria. Box is the only cloud-based provider among the four leaders.

“TPG has a long history in investing in cutting-edge technology companies and Box is no exception,” said Bryan Taylor at TPG. “Box has established a strong leadership position in the transition to the cloud, and we are confident that the Company can continue to scale.”

“We are excited about the differentiated platform that Box has built which is focused on the needs of businesses, and we’re looking forward to helping them continue to grow,” said Jeff Wilson at TPG.

“Cloud and mobile technologies are changing the way people work, and Box is well positioned to help businesses take advantage of this shift,” said Thomas Laffont, a Senior Managing Director who oversees private investments at Coatue Management, L.L.C. “We want to help them reach their full potential in bringing content and collaboration to the cloud and achieve their goal of becoming the next great enterprise software company.”

Morgan Stanley served as financial adviser to Box.

About Box

Box’s mission is to make businesses of all sizes more productive, competitive, and powerful by connecting people and their most important information. Content on Box can be securely shared and easily accessed on the web, through iOS, Android and Windows Phone applications, and extended to partner applications, such as Google Apps, NetSuite and Salesforce. Headquartered in Los Altos, CA, Box is privately held and backed by several leading venture capital firms and strategic investors. To learn more about Box, visit www.box.com.

About TPG Growth

TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With $3.7 billion under management, TPG Growth targets investments in a broad range of industries and geographies, utilizing leveraged buyout, growth equity, and private investment in public equity (PIPE) structures. The firm is backed by the resources of TPG, which has over $59 billion of assets under management. TPG Growth has invested in many well-known technology and software businesses including Uber, Domo, Airbnb, SurveyMonkey, SucessFactors and Red Book Connect. TPG Growth has offices in the United States, China, India and Singapore. For more information visit www.tpggrowth.com.

About Coatue Management, L.L.C.

Coatue is a privately owned investment firm focused on technology, media and telecommunications, in addition to other sectors.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...