Salesforce.com Inc. to invest $100 Million to its forthcoming New Startup fund. The Salesforce company exploring the ways to upgrade its Application and Business software services through new investments in startup programs.
Salesforce Ventures the corporate investment body of Salesforce.com Inc. launched new Salesforce Platform Fund on Tuesday to support new startup companies. The company is looking forward to feeding the little startup companies especially the artificial intelligence startups to enhance its core products with futuristic ideas.
Salesforce among the top companies like Qualcomm Inc and Microsoft Corporation who tend to invest in new startup funds. By large investments, the companies are seeking more strategic returns from these startups.
Venture fund investments into startup programs become popular in recent years as the big tech companies decided to take more shifts in technology.
Salesforce technology is also looking for that big change, as the small ERP and Bussiness applications companies are constantly doing well with the new innovations in their products.
Startup growth funds to help Salesforce.com Inc in enhancing capabilities do deliver more advanced products in future. Salesforce marketing cloud business is the focus area for the company. Competition in cloud software services is getting tough for each company day by day.
Salesforce earlier made investments into web storage business with investment findings. Box Inc., DocuSign Inc., and Twilio Inc., all of which were running on Salesforce Cloud Computing Platform. The company has invested in more than 200 startups since 2009, out of which around 50 are acquired by Salesforce so far.
Salesforce.com Inc. New Startup Fund
Salesforce EVP for Corporate Development Mr. Somojai said, The company’s investments, made alongside venture-capital firms, have ranged between $250,000 and $10 million. Salesforce takes ownership stakes under 10% and doesn’t seek board seats.
New startup fund aiming to boost the companies pumping in Salesforce’s growth. The company recently moved into the artificial intelligence AI services and the findings will support the potential business growth in artificial intelligence companies.
Salesforce has not disclosed the major outcomes from its previous investments. Salesforce company is focusing more on new software development platforms. The $100 million investment will be available for the new startup funds within next two years.