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Box.net Raises $48M

by Naresh Sarwan on February 24, 2011

Commodity document management and collaboration vendor, Box.net announced today they have raised $48M (US) in funding.  Founder Aaron Levie states:

To realize the full potential of our service, and deliver this new experience to customers, we must build a different kind of enterprise software company. The ways in which we sell, support, and serve our customers will look different from most companies that have come before us. Thanks to our freemium business model, our business and economics are fundamentally more aligned with our customers’ success; enterprises will only pay us if our technology is amazing, and working to solve their biggest challenges. This means we must continue to deliver a platform that’s the simplest to use, fastest to deploy, most connected, and most open of all the technology available.” [Read More]

They may have some way to go on the last point, but with a $48M war chest, box.net are evidently poised to make an assault on territory currently occupied by enterprise vendors.

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