Box has raised another $150 million in funding as it waits to go public

Box, the cloud software company that has delayed for months its widely anticipated IPO, has raised $150 million in funding from hedge fund Coatue Management and private equity firm TPG. Los Altos-based Box on Monday updated its IPO filing with the Securities and Exchange Commission to show the new investment, led by Coatue, which now owns 3.3 percent of the company. The investment allows Box, which sells software to companies to store and manage files in the cloud, to further delay its public market debut, an event the startup has been dragging out since first filing its paperwork in March. The market tumble in April led several tech startups including Box to delay IPO plans, but some experts also blame Box’s unsteady financials, including a $38 million loss from February to April this year. This new cash infusion may help Box buy the time it needs for a successful IPO, according to some experts.