Home Technology Salesforce Launches New Fund to Fuel Mobile Innovation

Salesforce Launches New Fund to Fuel Mobile Innovation

Salesforce Ventures, the corporate investment group of salesforce.com, inc. (NYSE:CRM) launched a new fund called Salesforce1 Fund to fuel mobile innovation for Internet of Customers.

Salesforce Ventures allocates $100 million

According to salesforce.com, inc. (NYSE:CRM), Salesforce Ventures allocated $100 million for Saleforce1 Fund to invest in companies developing innovative mobile apps and connected products that would extend the power of Salesforce1 Platform.

Salesforce Ventures is helping companies to connect with their customers in new ways by investing in innovative enterprise technology. The investment group provides funding to portfolio companies to accelerate their growth. They also gain competitiveness through the guidance of the executives and innovators at salesforce.com, inc. (NYSE:CRM) and access to the world’s largest cloud ecosystem.

In addition, portfolio companies will also obtain leverage from the expertise of Salesforce.com Foundation by incorporating its 1-1-1 model of integrated philanthropy as part of their business model.

Salesforce1 Fund to empower innovative startups

John Somorjai, EVO of Corporate Development and Strategy at salesforce.com, inc. (NYSE:CRM) said the new Saleforce1 Fund is intended to empower the most innovative start-ups in the industry to build transformative technologies for its customer platform. He added that the company’s commitment to helping next generation startups is growing.

On the other hand, Suzanne DiBianca, president, Salesforce.com Foundation said, “We want to change the world through inspiring early-stage corporate philanthropy. We’re thrilled to work with Salesforce Ventures to extend the 1-1-1 model and foster an ecosystem of portfolio companies who are committed to giving back as they grow.”

Some of the first recipients of investments from Salesforce1 Fund include DocuSign, i.am+, InsideSales.com and Skuid.

DocuSign CEO Keith Krach said “Salesforce Ventures gives us more than just funding—we’ve got an inside track to the Salesforce ecosystem. Partnering with salesforce.com early on gave us the ability to bring the global standard for Digital Transaction Management to more enterprise customers around the globe to help them keep their business 100 percent digital.”

On the other hand, Dave Elkington, CEO and co-founder, InsideSales.com commented that Salesforce1 Platform enabled them to integrate their apps quickly and seamlessly into the Salesforce mobile experience. “Customers have been clamoring for our solution and Salesforce Ventures’ funding and support will turbocharge our success,” added Elkington.