Box Is Raising New Financing Round

Box Inc., a venture-capital-backed company whose software lets workers store and access documents on the Web, is raising a new round of financing that would value the start-up at $1.2 billion, people familiar with the matter said, showing investors’ continued enchantment with such technologies.

The move comes as Palo Alto, Calif.-based Box turned down a takeover offer of at least $700 million from Citrix Systems Inc. earlier this year, the people said. Box plans eventually to go public at a valuation of as much as $2 billion to $3 billion, and could file for an IPO next year, they added.

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