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Storage company Box closes $100M round at $2B valuation

November 21, 2013: 1:46 PM ET

The new round comes on the heels of rival Dropbox's massive $8 billion valuation.

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FORTUNE -- Cloud-based storage company Box had finished raising $100 million in new venture capital funding at around a $2 billion valuation, Fortune has learned.

Yesterday an industry research firm called VC Experts uncovered a Delaware regulatory filing that authorized the new stock issuance. A source close to the process says that the deal is "past, not present," and that Box likely will make an official announcement shortly.

The entire round was "primary," meaning it will be used for general corporate purposes rather than to cash out early employees or other shareholders.

No word yet on participating investors, except that the round was led by an outsider. Box previously had raised over $300 million from firms like DFJ, U.S. Venture Partners, Bessemer Venture Partners, Andreessen Horowitz, General Atlantic, Scale Venture Partners, SAP Ventures and The Social+Capital Partnership.

News of Box's round comes a few days after news broke that consumer-focused storage competitor Dropbox is looking to raise $250M on an $8B valuation.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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