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Box could raise another $100M before its IPO

Image Credit: Photo Illustration: Eric Blattberg

Enterprise-focused cloud file-sharing company Box has been on a difficult road to an IPO, and it might be raising some extra money before it actually goes public.

Box is in talks with private-equity firm TPG to raise a new round of funding, according to a report by the Wall Street Journal. The round could total $100 million or more, according to Re/code.

Box filed to go public three months ago, but it has delayed its plans. In late April, the company had second thoughts and decided to push it back to June.

This new round of funding is likely aimed at deferring the IPO date even further, as Box goes through money quite quickly. According to its S-1 filing, it had a net loss of $168 million from the fiscal year that ended on Jan. 31.

“Our plan continues to be to go public when it makes the most sense for Box and the market. As always, investing in our customers, technology, and future growth remains our top priority,” a Box spokesperson told VentureBeat when reached for comment.

During its last funding round in November, Box raised $100 million at a $2 billion valuation.

More information:

Box was founded on a simple, powerful idea: it should be easy for people to access, collaborate, and share all their content, wherever they are. Co-founders Aaron Levie and Dylan Smith, along with our fast-growing team, have since esta... read more »

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