Cloud storage startup Box’s enterprise security has been given a shot in the arm after it enlisted the help of the former CEO of one of the world’s most renowned security brands.
Former Symantec CEO Enrique Salem joins up as a special advisor to the startup that is working with security firms and other partners to protect corporate clients that are continuing to use smartphones and tablets more frequently in the workplace.
“Enterprises are facing a tremendous shift in information security today,” stated CEO Aaron Levie. “The proliferation of new devices that are brought in by employees, the global nature of work that ensures collaboration across business boundaries, and the dramatic rise of cloud applications used across an organization all pose new challenges for enterprises in managing their information.”
Box has been aggressive with its moves into the enterprise sector over the past 12 months and it bought dLoop’s technology in November 2013 in order to allow it to offer advanced data analytics to enterprise clients whilst not skimping on controls to protect content.
Before this it had already launched Box $rev to assist enterprise facing developers in generating revenue from apps and a small business starter plan launched in August 2013 specifically designed for firms with 10 employees or less.
Bringing on board a seasoned security professional will bolster confidence even further in the company before it embarks on its initial public offering [IPO] at a point later on this year.
Box has already filed the necessary documentation to launch a confidential IPO with the US Securities and Exchange Commission [SEC] and it was able to do so secretly due to the new rules brought in under the Jumpstart Our Business Startups Act [JOBS].
Founder Levie has already engaged with several banks, including Morgan Stanley, Credit Suisse, and JP Morgan Chase, to underwrite the stock offering that is hoped will raise around $500 million [£304 million].