The talks are still at an early stage. In addition, a source says that while the timing of a Box IPO is uncertain, the company still expects to go public by year's end.
The report shortly follows one from re/code stating Box's IPO plans are "back on track" thanks to the recent rebound in cloud software stocks, and that the company is "hoping to complete its IPO by July or August." Fortune and the WSJ had previously reported of delays.
A fresh funding round would give Box time to narrow the huge losses (caused in large part by heavy sales/marketing spend) that have put many would-be IPO investors on edge.
Update: Re/code now reports Box is looking to raise $100M or more from TPG.