US-based Salesforce Ventures launches $50m Consultant Trailblazer Fund

Visual from Salesforce website

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.

“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.

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.