Dropbox raises $325M at $10B valuation

Dropbox Inc, a cloud storage company, has raised $325 million with room to go to a higher total of around $450 million, as per its regulatory filing with US SEC. As many as 72 investors participated in the round as per the disclosure.

Last month, Dropbox was reportedly sewing a deal worth $250 million from a fund managed by BlackRock Inc and other investors, valuing it at $10 billion.

Other Dropbox investors include Goldman Sachs, Sequoia Capital, Index Ventures, and Accel Partners.

Founded in 2007 by Massachusetts Institute of Technology graduates Drew Houston and Arash Ferdowsi, Dropbox was last valued at about $4 billion after a 2011 funding round. It has scaled up by adding users by touting its ease-of-use interface that syncs files across multiple devices and operating systems. It last claimed 200 million users.

Dropbox competes with Box, which is preparing to go public as early as this year. Dropbox is also considered to be an IPO candidate.

(Edited by Joby Puthuparampil Johnson)