“This constant adding of new functionality and not raising the price of the subscription is unusual in the software world,” Pelz-Sharpe said. “It is common with Microsoft, common with Google, common with Oracle. Box is a very healthy company, but it’s not Oracle, right? Many vendors, when they get to [Box’s size], end up with a price list.”

The security features of Box, Pelz-Sharpe added, have made the company popular among government users as well as law firms.