Dropbox has officially raised $325 million at a $10B valuation
Summary:Fan favorite Dropbox has raised $325 million with the option to go to $450 million, according to recent SEC documents.
Dropbox has raised $325 million with the option to go for $450 million, according to a new SEC filing (hat tip to Fortune’s Erin Griffith for spotting it). Those figures are sort of in line with January estimates that the company had raised about $250 million, with an upside limit of $400 million for an overall valuation of $10 billion.
San Francisco-based Dropbox is a huge hit with consumers who want to share and sync their files across devices and store them in the cloud. Last fall the company said it had more than 200 million users, although it always declines to say how many of them use the paid version of the service as opposed to the free version.
Dropbox also claims that 4 million businesses use its service, but again hasn’t broken out how many of those are using the fee-based Dropbox for Business, which competes with Box and a raft of other business-focused cloud storage and file-sharing companies.
To compete for business accounts, Dropbox would likely have to fill in some checkboxes in security and compliance features. As great and easy to use as it is, the perception — and Dropbox execs would argue that it’s purely perception — that the service is not ready for primetime use in regulated or compliance-heavy companies.