Box Inc. Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Box Inc. Strengths, Domain Expertise, and Key Differentiators

Box provides a cloud content management platform that enables organizations of all sizes to securely manage their content while allowing easy, secure access and sharing of this content from anywhere, on any device. With Box's Software-as-a-Service (SaaS) cloud content management platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with legal and regulatory requirements, internal policies and industry standards and regulations. Box provides a single content platform that accelerates business processes, improves employee productivity and protects an organization’s most valuable data. Box's platform enables a broad set of business use cases across enterprises, hundreds of file formats and media types, and user experiences. Box's platform integrates with leading enterprise business applications, and is compatible with multiple application environments, operating systems and devices, ensuring that workers have access to their critical business content whenever and wherever they need it.

Box Inc. Recent Developments

In December 2023, Box introduced a range of consulting services aimed at assisting customers in effectively implementing AI content strategies within their organizations while ensuring security and compliance. These tailored services, now accessible through Box Consulting, encompass personalized workshops, implementation roadmaps, managed deployment coupled with extensive training and support, and practical guidance. Through these offerings, Box aims to empower enterprises of various sizes to seamlessly execute their strategies. These newly unveiled services complement Box Consulting's existing portfolio, which has already aided numerous customers in fortifying their Box implementation, streamlining their technology infrastructure, and fostering transformative change across their enterprises.

In March 2023, Box expanded its collaboration with Microsoft by integrating the new Azure OpenAI Service into its Box AI platform. This integration allows Box customers to access cutting-edge AI models while adhering to the stringent security, privacy, and compliance standards upheld by both Box and Microsoft. Built upon Box's platform-neutral framework and guided by its AI Principles, Box AI can now seamlessly connect with state-of-the-art large language models available through Azure OpenAI Service. By incorporating these advanced intelligence models into its Content Cloud, Box aims to enhance its enterprise-grade AI capabilities. Leveraging Microsoft's expertise, Box continues to assist customers in meeting rigorous compliance requirements such as FINRA, GxP, and FedRAMP.

Box Inc. Mergers and Acquisitions (M&A) Activities

In February 2021, Box finalized its acquisition of SignRequest, a leading e-signature provider, for a total aggregate sum of $54.3 million. This strategic move enabled Box to enhance its offerings with the development of Box Sign, an advanced e-signature capability built upon SignRequest’s technology and seamlessly integrated into the Box platform.

Box acquired Butter.ai in July 2018 to bring the intelligent search to the enterprise.

Box Inc. Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Box Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Box Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Box Content Cloud customers.

Box Inc. Key Enterprise and Cloud Applications

Box Content Cloud

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Box Inc. Direct vs Indirect sales

Box Inc. Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Box Inc. Customers

No. of Box Inc. Customers: 100000

No. of Box Inc. Enterprise Applications Customers: 100000

No. of Box Inc. Cloud Customers: 100000

No. of Box Inc. Cloud Subscribers: x

Throughout 2023, Box secured significant wins and expanded its partnerships with renowned organizations including Elf Cosmetics, Guardant Health, Inc., Hormel Foods Corporation, IQVIA, Lineage Logistics Holdings, Novo Nordisk A/S, Schrödinger, Inc., United Parcel Service of America, Inc., and the U.S. Department of the Air Force.

As of January 2023, Box had over 100,000+ paying organizations, and their solution was offered in 25 languages. Box define paying organizations as separate and distinct buying entities, such as a company, an educational or government institution, or a distinct business unit of a large corporation, that have entered into a subscription agreement with Box to utilize their services.

Box Inc. Market Opportunities, M&A and Geo Expansions

In early 2024, Box announced its acquisition of Crooze, a prominent provider of no-code enterprise content management applications designed to harness the Box Platform. By integrating Crooze's expertise and technology, which includes a no-code app builder and advanced metadata capabilities, Box aims to assist organizations in managing essential business processes such as contract lifecycle management, digital asset management, controlled document management, enterprise content libraries, and beyond.

In 2021, global investment firm KKR led a $500 million investment in the company through convertible preferred stock. This infusion of capital from KKR is poised to propel the company's strategy forward, particularly in the development of the Box Content Cloud. This strategic move aims to empower customers to modernize their workflow processes and catalyze digital transformation across their organizations. With the backing of KKR, the company is doubling down on its land-and-expand approach to drive growth from both new and existing customers. Moreover, it seeks to stimulate ongoing demand for its advanced product offerings and encourage adoption of Box Suites. In addition, the company is actively broadening its product portfolio and extending its footprint in crucial international markets to unlock fresh avenues for growth and innovation.

To accelerate its strategy Box has expanded into new market adjacencies like e-signatures with Box Sign, the new e-signature capability that will be natively embedded in Box, while also continuing to double down on product areas like Box Shield and Box Governance for advanced security and compliance, and Box Relay for workflow automation. Box also continues to cultivate strong partnerships with leading technology companies and system integrators, including IBM, Google, Salesforce, Slack, Zoom, Cisco Okta, and Microsoft, to ensure it is delivering its Content Cloud to customers at scale.

Box Inc. Risks and Challenges

The market for cloud-based enterprise services is not as mature as the on-premise enterprise software market. Because Box derives, and expect to continue to derive, substantially all of their revenue and cash flows from sales of Box's cloud content management solutions, Their success will depend to a substantial extent on the widespread adoption of cloud computing in general and of cloud-based content management services in particular.

Box Inc. Ecosystem, Partners, Resellers and SI

Box offers more than 1,500 integrations with partners including Microsoft, IBM, Salesforce, Apple, Google, Slack, Adobe, Palo Alto Networks, Okta, Zoom and others, giving their users easy access to their content in Box without leaving these applications. In addition, in-house enterprise developers and independent software developers can rapidly build and provision new applications that leverage and extend the core functionality of our services, increasingly with a focus on specific industries and vertical market use cases. To date, tens of thousands of third-party developers have leveraged Box's platform as the secure content layer for their applications.

Box Inc. Cloud Infrastructure Insights

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Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: