It’s raining cash in the personal cloud storage space. Brought forth by the idea of massive cost savings, cloud storage has become one of the hottest items in the market today. People are becoming more mobile, and their content must follow suit.  With growing consumer demand around being able to save, access and collaborate anytime and anywhere, this very idea fuels the cloud storage engine. One of the recognized enterprises in this field is DropBox, which has just been awarded $250 million in Series B Funding. Some of the investors who placed their trust to DropBox’ talent and potential include Benchmark Capital, Goldman Sachs, Greylock Partners, Institutional Venture Partners, RIT Capital Partners, and Valiant Capital Partners. Early investors Sequoia Capital, Accel Partners, and Hadi and Ali Partovi.

Co-founder and CEO of Dropbox Drew Houston is elated by this good news and promises to strengthen services rendered by the leading personal cloud storage provider.

“Our goal has always been to build a service that hundreds of millions of people would love and trust. We’re inspired by the consumers and businesses who depend on Dropbox, and we will continue to make sure that the world’s devices, services, and apps work together seamlessly. We’re thrilled to have such world-class investors joining forces with us.”

Dropbox plans to utilize the funds to aggressively assert competition in the industry by making acquisitions, expanding its products and growing their manpower.  Currently, it is servicing around 45 million users and is thought to be syncing around a billion of files every three days.  No wonder Dropbox has bagged quarter of a billion dollars in funding. They have a few important partnerships to enhance distribution and customer acquisition, recently tying up with Apple to craft a more potent electronic privacy platform for users.

Personal cloud storage is certainly on a roll.  Just last week, Dropbox competitor Box received $81 million worth of a round’s funding. This brings their total financial boost to $162 million—the biggest ever for the organization.  They have just recently declined a $550 million acquisition offer and decided to carve their own name in the walls of the cloud industry.

Startups are slowly but surely creating a strong brand in the cloud storage space. Brought by people’s demand for a better way to store their files and making those readily accessible the moment they need it, personal cloud storage system looks very promising and attractive to investors.