PALO ALTO, CA, Jan 10, 2012 (MARKETWIRE via COMTEX) –
Box(R) today announced that it ended 2011 with a 3X year-over-year
increase in enterprise revenue as organizations like AAA, Dow
Chemical, McAfee and Procter & Gamble selected Box to share, manage
and collaborate on content in the cloud. As one of the
fastest-growing enterprise services of all time, Box closed out the
year with more than 8 million users, and doubled its enterprise
customer base. The company closed $129M in funding in 2011 to fuel
its enterprise expansion, and hired 215 new employees, bringing total
headcount to 340.
“As we head into 2012, organizations are embracing the cloud from the
bottom up and the top down,” said Aaron Levie, co-founder and CEO of
Box. “CIOs of the world’s largest companies are bypassing their
traditional vendors in favor of enterprise cloud startups that are
better positioned to meet the demands of today’s and tomorrow’s
workers. This shift will transform the enterprise software landscape,
establishing a new set of technology leaders and an entirely new way
of working that’s more flexible, mobile and social than ever before.”
Trusted by Enterprises
Box saw 3X enterprise revenue growth in 2010
over 2011, driven by deployments in large organizations such as AAA,
Dow Chemical, Enterasys Networks, EquinixInternet2, McAfee, Procter &
Gamble and Red Bull. The company also experienced huge traction
across major industry verticals, with a 370 percent increase in the
number of retail customers, a 265 percent increase in the financial
sector and a 200 percent increase in healthcare customers by the
close of 2011.
In recognition of its enterprise momentum, Box was named a “Cool
Vendor” in Gartner’s 2011 Report, “Cool Vendors in Content
Management.”(1) The Enterprise Strategy Group (ESG) also positioned
Box as a “major and mature” vendor in their December 2011 Market
Landscape report, “Online File Sharing and Collaboration in the
Enterprise.”
“Box seems to be the cloud content sharing and collaboration vendor
to beat in the business market,” said Terri McClure, Senior Analyst
at ESG. “The company is well funded and focused, and when it comes to
the combination of more sophisticated collaboration features,
enterprise focus, security, administration, and application
integration, Box currently has an advantage over its peers.”
Product and Platform Innovation
In 2011, Box unveiled an all-new
version of its cloud service, rolled out cross-platform enterprise
sync to business customers in the fall, and made a number of security
enhancements, reinforcing the company’s commitment to provide the
highest levels of content security and management for businesses.
Box also saw tremendous mobile traction in 2011, with mobile customer
implementations increasing 140% each month and the total number of
new mobile users growing by174% each quarter. The company’s
cross-platform mobile support and adoption helped establish Box as a
leader in enterprise mobile collaboration by Forrester Research, Inc.
in the August 2011 report, “The Forrester Wave(TM): Mobile
Collaboration, Q3 2011.”
In November 2011, Box announced the Box Innovation Network(R) (/bin),
a new program designed to foster innovation in enterprise software.
/bin consists of leading developer communities and diverse platform
partners including Appcelerator, Cloud Foundry, Heroku, Rackspace,
SnapLogic, and Twilio. Today, there are more than 130 integrated
applications using Box’s open APIs and 5,000 developers on the Box
platform.
New Hires and Growth
Listed as one of the 2011 Top Small Company
Workplaces by Inc. Magazine, Box grew employee headcount from 125 to
340 employees in 2011 and added several industry veterans to its
leadership team. Whitney Tidmarsh Bouck joined as enterprise general
manager from EMC, Jon Herstein started as VP of customer success,
bringing years of experience from NetSuite, Matt Self, previously at
Cisco, was brought on as the new VP of platform engineering and Chris
Yeh moved from Yahoo! to head up the Box platform team.
With plans to double its team in the next year, the company
headquarters will move to a 100,000 square-foot office in early 2012.
Box will also expand its presence domestically and internationally.
To join the Box team, visit
www.box.com/jobs .
About Box
Founded in 2005, Box provides a secure content sharing
platform that both users and IT love and adopt. Content on Box can be
shared internally and externally, accessed through iPad, iPhone,
Android and PlayBook applications, and extended to partner
applications such as Google Apps, NetSuite and Salesforce.
Headquartered in Palo Alto, CA, Box is a privately held company and
is backed by venture capital firms Andreessen Horowitz, Bessemer
Venture Partners, Draper Fisher Jurvetson, Emergence Capital
Partners, Meritech Capital Partners, NEA, Scale Venture Partners, and
U.S. Venture Partners, and strategic investors salesforce.com and
SAP.
(1) Gartner, Inc., Cool Vendors in Content Management, 2011, Toby
Bell et al, April 19, 2011.
SOURCE: Box
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