According to The Wall Street Journal, Dropbox has raised $250M in a recent funding round that brings the company’s valuation to $10 billion. The capital raise is led by BlackRock Fund, and brings the total funding raised by Dropbox to over $500M. Dropbox’s valuation at $10 billion means that the company’s value has more than doubled since its $4 billion valuation in late 2011.The recent funding raise is intended to accelerate product development and business development activities targeted to enterprise customers interested in features related to enhanced security, role based access, audit controls and related features. This is not the first time Dropbox has raised a quarter of a million dollars in capital: Dropbox raised $250M in 2011 in a round financed by Goldman Sachs, Sequoia, Index Ventures and Accel Partners. Dropbox’s recent funding raise is set to pit it squarely with competitor Box, which raised $100M at a $2 billion valuation in December 2013. As IPO rumors proliferate about both Dropbox and Box, consumers stand to benefit from ever increasing free storage allotments for both platforms designed to boost usage of and familiarity with the cloud-based file sharing and storage vendor in question.