Announced via an official blog post, Salesforce Ventures has today announced the launch of its newest $50 million investment fund to further drive capital into ‘cloud consulting’ startups — that are helpful and complementary to Salesforce’s existing business.
This investment fund has been named ‘SI (system integrator) Trailblazer’ and will enable upcoming consulting firms to accelerate their growth and drive greater customer success. It will enable them to scale their technological solutions to support growth for the future while empowering customers to transform their businesses with Salesforce.
With this $50 million investment fund, the company is not only looking at existing consulting partners but is also searching to sign up new ones to further the might of its arsenal. This will enable the company to expand its services to even more professional users, which will help it overtake competition — especially Amazon and Oracle. Speaking of the same, John Somorjai, EVP of Corporate Development and Salesforce Ventures said:
This new fund will foster the next-generation of SIs and supercharge the growth of the Salesforce ecosystem.
The investment arm of the company has already kicked off the fund by driving capital into a handful of consulting firms, including 7Summits (provides consulting for the social community space and the Community Cloud), Arxxus (leading Australian provider of Salesforce professional services, and ATG (provides quote-to-cash (CPQ) advisory and implementation services).
Talking about the launch of this fund, Tyler Prince, EVP of Worldwide Alliances and Go-to-Market Innovation, Salesforce said:
Growing customer demand for Salesforce has created a critical need for more Salesforce-trained consulting partners as part of the thriving ‘Salesforce Economy. The new SI Trailblazer Fund and SI Trailblazer Alliance Initiative will help fuel our consulting partner ecosystem and empower the next generation of high-growth cloud consultancies.
In addition to the massive fund, the company has also decided to launch ‘a new SI Trailblazer Alliance Initiative’ to provide the consulting firms who have the potential to exhibit growth (not suitable for immediate investment) with a wide-range of concierge resources and training to further build out their capabilities. This will not be limited to certain types of firms but extend to several types of consulting firms.
The investment arm of the company will also not limit itself to pumping capital only into cloud consulting firms. It will continue to scout for a broad range of startups outside the current scope of their business to propel and build new exciting opportunities for the platform in the future.