Box Said to Raise $150 Million From TPG at $2.4B Value

Box Inc., the cloud-storage provider that filed for an initial public offering earlier this year, has raised $150 million at a valuation of $2.4 billion from TPG Capital and Coatue Management LLC, according to people with knowledge of the situation.

The Los Altos, California-based startup, which was valued at $2 billion during its last financing in December, is set to announce the new fundraising as soon as today, said the people, who asked not to be identified because the information isn’t public. TPG, a Fort Worth, Texas-based private-equity firm, will also get a seat on Box’s board, the people said.