Salesforce Ventures launches second $50 mn Consultant Trailblazer Fund1 min read . Updated: 13 Nov 2019, 05:53 PM IST
- The new fund will provide growth capital and resources to the next generation of cloud consulting companies and digital agencies
- Salesforce’s John Somorjai says this follow-on fund dedicated to our consultant ecosystem will drive further customer success around the globe
San Francisco-based Salesforce Ventures, the global corporate investment arm of customer relationship management services company Salesforce, on Wednesday said it has launched its second $50 million Consultant Trailblazer Fund.
Having started in 2009, Salesforce Ventures houses multiple funds that back firms at various stages across sectors and geographies. So far, it has invested in more than 375 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio and Zoom, across 22 countries. The new fund would help Salesforce work towards its goal of reaching 2.5 lakh certified consultants by 2022.
The new fund will provide growth capital and resources to the next generation of cloud consulting companies and digital agencies to build and scale their Salesforce services capabilities and add more customers to the platform, the company said in a statement.
“Salesforce Ventures is the only strategic fund focused 100% on creating the world's largest ecosystem of enterprise cloud companies and extending that technology to Salesforce customers," said John Somorjai, executive vice president of corporate development at Salesforce Ventures.
“Consultancies and digital agencies play a vital role in our customers’ digital transformations. This follow-on fund dedicated to our consultant ecosystem will drive further customer success around the globe," said Somorjai.
First launched in 2017, the Consultant Trailblazer Fund had raised $50 million and fully committed the investment over the next two years. With that fund, Salesforce Ventures had invested in consulting firms including Astound Commerce, ListEngage, Silverline, Simplus and Xertica.
“Partnering with Salesforce Ventures has allowed us to execute that vision while expanding our incredible team, and deepening our focus on the financial services and healthcare industries," said Gireesh Sonnad, chief executive and co-founder at Silverline, one of Salesforce Ventures’ portfolio firms.