Online File System Box.net Raised $6 million

Box.net, the
web’s first online file system, announced today that it has raised $6
million in a Series B financing led by venture capital firm U.S.
Venture Partners, and includes Box.net Series A investor Draper Fisher
Jurvetson. The capital will be used to continue company expansion,
including the development and marketing of new services and products.

Box.net
has more than 1.4 million registered users, and continues to grow as
the need to access files anywhere, anytime becomes an integral part of
people’s personal and professional lives.

"The
exponential growth in data creation has exposed the difficultly of
portability and sharing of files. As the premier file system for the
web, Box.net solves the problem of sharing, storing and accessing your
files from anywhere," said Aaron Levie, CEO, Box.net. "The financial
support from USVP validates the strength of our service and our team.
With these funds, we will be able to further develop and expand our
offerings."

As
the company accelerates its sales and marketing in 2008, Box.net will
continue to develop its Enterprise offering which provides
enterprise-class online file storage and collaboration tools. The
company plans to expand the reach of its service through strategic
partnerships and distribution deals.

"Cloud
computing and storage are at the center of major shifts in the way
people manage, retrieve and share information. Box.net’s innovative
technology and business model have generated significant customer and
partner traction in a fast-growing market," said Mamoon Hamid, who
joins Box.net’s board from U.S. Venture Partners. "Consumers are
adopting web-based solutions like Box.net and bringing them into the
workplace. By making it easier for users to share and collaborate
online, Box.net is perfectly positioned as a solution for individuals
and companies of all sizes."

Box.net most recently launched
OpenBox in December 2007. The open platform gives users the power to
manage their data from a single point, and access both business and
personal web-based applications to enhance productivity. Third-party
services working with the OpenBox platform include Echosign, Zoho,
Scribd, Picnik, Autodesk, Twitter, and others.

U.S. Venture Partners

Draper Fisher Jurvetson Growth Fund

Box.net, Inc.