The cloud content storage provider, backed by a host of corporates, has now raised almost $600m and will seek to float later this year.

Box, the US-based cloud storage company that filed for a $250m initial public offering in March, raised $150m yesterday from investment firms TPG and Coatue Management.

Box has now raised approximately $594m in funding since it was founded in 2005, including $100m in a January 2014 round which included conglomerate Itochu, telecommunications companies Telefonica and Telstra, and electronics producers Macnica and Mitsui.

Other past investors include software companies SAP and Salesforce.com, semiconductor manufacturer Intel, Draper Fisher Jurvetson, U.S. Venture Partners,…