Salesforce Ventures, the company’s global corporate investment group, has allocated $100 million to invest in European startups to fuel cloud innovation and customer success in the region.
The new $100 million commitment will provide funding and support to the entrepreneurs driving this growth in the public cloud market.
The global shift to the cloud has opened the door to new and exciting social, mobile and data science technologies, and has created unprecedented growth in cloud computing spending by companies across Europe.
Since 2009, Salesforce Ventures has been actively investing in the next generation of enterprise cloud startups that are part of the emerging global enterprise app economy.
“There is so much incredible innovation happening in Europe today and we want to empower the next generation of enterprise cloud startups in the region,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures, Salesforce. “Our $100 million commitment strengthens our mission to help startups grow and give back to their communities.”
Salesforce Ventures portfolio companies receive funding to accelerate their growth and gain a competitive edge through access to the world’s largest cloud ecosystem and the guidance of Salesforce innovators and executives.
With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model.
The Salesforce Ventures portfolio includes innovative European cloud companies such as CartoDB, CloudSense, Cloud9 IDE, NewVoiceMedia, Qubit, Universal Avenue and YOUR SL.
“This new commitment from Salesforce Ventures will stimulate the next generation of enterprise technology and grow the Salesforce ecosystem to drive even greater customer success in Europe,” said Miguel Milano, President, Salesforce EMEA.