Salesforce Ventures Launches Second $100 Million Impact Fund

Rhea-AI Summary

Salesforce (NYSE: CRM) announced the launch of its second Impact Fund, valued at $100 million, aimed at fostering growth in cloud companies addressing social and environmental challenges. Key focus areas include education, climate action, diversity, equity, and providing technology for nonprofits. Salesforce Ventures emphasizes the importance of integrating values such as social responsibility into their investment approach. The fund builds on previous efforts, which invested in over 25 companies through a $50 million fund initiated in 2017, signaling continued commitment to impactful initiatives.

Positive

• Launch of a new $100 million Impact Fund to support cloud companies addressing critical social issues.
• Continued investment in companies that focus on education, sustainability, and diversity.
• Building on the previous $50 million Impact Fund, which has already invested in over 25 companies.

Negative

• None.

SAN FRANCISCO, Oct. 6, 2020 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced its second Impact Fund from Salesforce Ventures, the company's global strategic investment arm. The new $100 million fund will accelerate the growth of cloud companies addressing some of today's most pressing needs including education and reskilling, climate action, diversity, equity and inclusion, and providing tech for nonprofits and foundations.

"Now more than ever, we believe business can be a powerful platform for change. We must leverage technology and invest in innovative ideas to drive the long-term health and wellness of all citizens, enable equal access to education and fuel impactful climate action," said Suzanne DiBianca, Chief Impact Officer and EVP of Corporate Relations at Salesforce. "Through this new fund, Salesforce will invest in companies solving the world's most pressing social and environmental challenges."

"Salesforce Ventures not only invests in the most innovative cloud companies and founders globally, we lead with our values -- incorporating social responsibility, sustainability and diversity into our investment process," said John Somorjai, EVP of Corporate Development and Salesforce Ventures. "We want to support next-gen entrepreneurs developing solutions that drive digital transformation and customer success, and also improve the state of the world."

Fueling Companies Driving Positive Social Change
The new fund will invest in companies delivering solutions that address today's urgent and interwoven crises:

• Education + Workforce Development: Companies enabling equal access to high-quality education, reskilling and preparing workers for jobs of the future.
• Sustainability: Companies creating better access to clean energy, improving resource efficiency and supply chain performance and developing new technologies that will help address climate change.
• Diversity, Equity and Inclusion: Companies developing tools that promote equal opportunity and economic empowerment for women and underrepresented groups, as well as investing in women and underrepresented founders.
• Social Sector Technology: Companies amplifying impact for nonprofits, foundations and public sector customers through technology that increases efficiency and transparency.

Additional Comments on the News
"Guild is on a mission to unlock opportunity for America's workforce through education, training and upskilling. Salesforce Ventures' support has helped us sharpen our approach and the resources to innovate and scale our work." said Rachel Carlson, CEO & Co-Founder, Guild Education.

"We find ourselves confronting four crises: economic, racial justice, health, and rapidly accelerating climate change. We need enlightened business leadership now more than ever," said Donnel Baird, CEO of BlocPower. "BlocPower partners with Salesforce to help identify, analyze, and track tens of thousands of urban buildings that need clean energy, which creates jobs, reduces greenhouse gas emissions, and helps to create economic savings in historically disadvantaged communities. We are proud that Salesforce Ventures is lending their business acumen to increase investment in solving these intersecting problems."

"Salesforce Ventures invested in Unite Us during a critical growth year, helping us advance our mission to electronically connect health and social care providers in communities across the nation," said Dan Brillman, co-founder and CEO of Unite Us. "They backed our vision of ensuring communities efficiently coordinate and deliver essential wraparound services that improve people's health and well-being. The Salesforce Ventures Impact Fund deeply supports companies transforming systems and improving people's lives, every single day."

"We set out on a mission to support 1 million underrepresented SMBs nationwide; these are the Next Wave Entrepreneurs who are going to drive our economy forward. To have a mission-aligned partner in Salesforce Ventures has been an integral piece in helping us continue the work we're doing to deliver on that promise," said Melissa Bradley, Co-Founder at Ureeka.

Continued Investment in Social Good
Impact investing is experiencing significant growth as businesses and investors increasingly aim to make real-world change and build a better future for all stakeholders. The Global Impact Investing Network states that despite recent headwinds, impact investors hold a positive outlook for the future, and estimates the market size at $715 billion, up more than 40 percent from last year.

In 2017, Salesforce Ventures introduced its first $50 million Salesforce Ventures Impact Fund to support a new generation of startups that are focused on driving positive social change. To date, this fund has invested in more than 25 companies to help accelerate their impact around the world. Building on the success of its current impact investing efforts, Salesforce Ventures will continue to advance the growth of these important companies by making new investments, and providing portfolio companies with differentiated access to one of the fastest growing enterprise software companies in the world, offering credibility, expert advice and customer introductions.

Additional Information:

• To learn more about the new Impact Fund, please visit: https://www.salesforce.com/company/ventures/impact/ 
• To learn more about Salesforce Ventures, please visit: www.salesforce.com/company/ventures/ 
• Follow @Salesforce and @SalesforceVC on Twitter

ABOUT SALESFORCE VENTURES                                                          

Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world's largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory, and operating support, and can easily join Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 400 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom, and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.  

ABOUT SALESFORCE

Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Founded in 1999, Salesforce enables companies of every size and industry to take advantage of powerful technologies—cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain—to create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.

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SOURCE Salesforce

FAQ

What is Salesforce's new Impact Fund?

Salesforce's new Impact Fund is a $100 million initiative aimed at supporting cloud companies that tackle social and environmental challenges.

How much has Salesforce invested in its first Impact Fund?

Salesforce invested $50 million in its first Impact Fund, which has supported over 25 companies.

When was Salesforce's second Impact Fund announced?

Salesforce's second Impact Fund was announced on October 6, 2020.

What areas does Salesforce's new Impact Fund focus on?

The new Impact Fund focuses on education, climate action, diversity, equity, and technology for nonprofits.

How does Salesforce Ventures ensure its investments align with its values?

Salesforce Ventures incorporates values such as social responsibility and sustainability into its investment process.