JUMP REPORT

Police Service of Northern Ireland Chooses Box for Cloud Content Management

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 887 13F filings submitted by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of December 31st, 2020. […]

The cloud storage company’s fate is in a precarious position even after a cash infusion from KKR.

(Bloomberg) — Degreed Inc., a software company serving human resource departments, said it has raised $153 million from investors valuing it at more than $1.4 billion.Its valuation rose from $710 million last year, the company said.The company’s chief executive officer, Chris McCarthy, will step down and be replaced by Dan Levin, a former chief operating officer of Box Inc., according to a statement reviewed by Bloomberg News. McCarthy will remain on the company’s board and be a strategic adviser.McCarthy had been at the company for eight years and CEO since 2017, according to the statement. He is stepping down to deal with a chronic back issue.Levin left Box in 2017 and still serves on its board. He said in an interview that he looks to build on Degreed’s accomplishments to take the company to the next level.Sapphire Ventures and Riverwood Capital led the round, which will be used to speed product development and global expansion and pursue acquisitions. McCarthy said Degreed generates annual revenue “right around $100 million.”Degreed, based in Pleasanton, California, provides training and career development programs. The company was founded in 2012 and has raised $335 million to date.Venture capital funds have been flowing into companies that serve a remote workforce and help projects stay on track when employees aren’t interacting in person as much. Lattice, another software company for human resources, raised funds at a $1 billion valuation last month.Kevin Diestel, a partner at Sapphire Ventures, said Degreed has thrived during the coronavirus pandemic because “companies are identifying that they need to address attrition in their workforce.”Existing investors that participated in the round included Signal Peak Ventures, Owl Ventures, GSV Ventures and AllianceBernstein Holding LP.(Corrects the valuation and fundraising amount in the first and second paragraphs)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Box, Inc. (NYSE:BOX), the leading Content Cloud, today announced that Aaron Levie, co-founder and CEO, and Dylan Smith, co-founder and CFO, will participate in a webcast presentation hosted by Raymond James on Wednesday, April 14, 2021 at 10:00 AM PT/1:00 PM ET. Aaron Levie and Dylan Smith will provide a discussion on Box’s platform built for the entire content lifecycle, securing content and powering collaboration in the Content Cloud.