We knew it was in the works, and now Dropbox has confirmed that it has raised a massive round of funding. The company has landed $250 million in Series B financing (bringing its total of capital raised to $257.2 million). Last we heard the round values Dropbox at $4 billion.

Index Ventures led the round, with participation from a stellar list of new investors (Benchmark Capital, Goldman Sachs, Greylock Partners, Institutional Venture Partners, RIT Capital Partners and Valiant Capital Partners). Early backers Sequoia Capital, Accel Partners, and Hadi and Ali Partovi also participated in the round. Founded in 2007, Dropbox was initially jump-started at Y Combinator.