KKR’s funding will assist advance Box’s technique to ship its Content Cloud and allow its clients to drive digital transformation all through their organizations.
Co-founder and CEO of Box, Aaron Levie, who will likely be stepping down from his position as chairman however will stay on the corporate’s board of administrators as a part of the deal, offered additional perception on the funding in a press release, saying:
“The investment from KKR is a strong vote of confidence in our vision, strategy, and continued efforts to increase growth and profitability. KKR is one of the world’s leading technology investors with a deep understanding of our market and a proven track record of partnering successfully with companies to create value and drive growth. With their support, we will be even better positioned to build on Box’s leadership in cloud content management as we continue to deliver value for our customers around the world.”
Driving Box’s subsequent section of progress
Box has reaffirmed its imaginative and prescient to ship its Content Cloud and thru KKR’s assist, the corporate plans to proceed advancing its land-and-expand technique to generate progress from each new and current clients. At the identical time although, it plans to develop its product portfolio as nicely as broaden its presence in key worldwide markets.
One of the methods through which Box has accelerated its technique is by increasing into new markets adjoining to its cloud storage enterprise together with e-signatures with Box Sign. The firm additionally plans to double down on product areas such as Box Shield and Box Governance for superior safety and compliance as nicely as Box Relay for workflow automation.
Box will proceed to domesticate sturdy partnerships with different massive tech companies and system integrators together with IBM, Google, Salesforce, Slack, Zoom, Cisco, Okta and Microsoft to be sure that it may possibly ship its Content Cloud to clients at scale.
The shift to working from home through the pandemic led many organizations to transfer extra of their workloads to the cloud and with KKR’s funding, Box will likely be in a position to capitalize on this and proceed to develop its enterprise.
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