Crocodoc, an angel-backed startup that offers document-viewing software to enterprises, announced Thursday that it has been purchased for an undisclosed amount by Box Inc., a venture-backed cloud storage company.
An alumnus of incubator Y Combinator, Crocodoc has raised about $1 million in funding, according to Reuters.
Most recently, Crocodoc raised an undisclosed amount from Ron Conway‘s SV Angel fund, and Shan Sinha, founder of Parlay Labs, according to AngelList. The company previously raised an undisclosed amount in April 2010 from Y Combinator,
Dave McClure of 500 Startups‘ fund I; Joshua Schachter, creator of bookmark-sharing service Delicious; Paul Buchheit, creator of Gmail; Steve Chen, co-founder of YouTube, and XG Ventures, a fund run by former Google executives Pietro Dova and Andrea Zurek, AngelList reports.
Box, founded in 2005, has raised about $290 million from a lengthy list of venture firms, including Bessemer Venture Partners, Draper Fisher Jurvetson, New Enterprise Associates, SAP Ventures, Scale Venture Partners and U.S. Venture Partners, according to Thomson Reuters (publisher of peHUB). Investors valued Box in excess of $1.1 billion when they funded its $125 million Series E round last year, Thomson Reuters reports.
Box is reportedly eyeing an IPO sometime this year or early next year.
Box co-founder and CEO Aaron Levie said in a blog post that the company bought Crocodoc because “content sits at the center of every business and nearly every business transaction. When you’re working on Box, you should have a remarkably beautiful, fast and seamless experience for viewing your documents. We’re going to deeply integrate Crocodoc’s HTML5 viewing technology into our core product, creating an all-new experience for the 15 million individuals and 150,000 businesses on Box.”
Correction: The headline for this story was changed to clarify that Crocodoc was an investment made by 500 Startups, not a personal investment made by Dave McClure, founding partner of 500 Startups.
Image credit: Crocodile photo courtesy of ShutterStock
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