SAN FRANCISCO — Salesforce Ventures, the corporate investment group of Salesforce, has introduced a new $50 million fund to help grow companies using Salesforce technology to address challenges across workforce development, equality, sustainability and the social sector. The first funding recipients include Angaza, Ellevest, Hustle and Viridis Learning.
“With the new Salesforce Impact Fund, Salesforce Ventures is investing in companies that are not only creating innovative solutions for customers, but also improving the state of the world,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures, Salesforce. “We’re proud to broaden our focus on impact investing as part of our portfolio.”
“The launch of Salesforce’s $50 million impact investing fund is yet another data point of the growing momentum of the field. With expertise in both venture capital and a fundamental commitment to impact, Salesforce is extremely well-positioned to achieve both financial returns and social impact at scale,” said Matt Bannick, managing partner, Omidyar Network. “We applaud Salesforce in launching this fund and look forward to continuing to provide support to and co-invest with the team.”
Salesforce Ventures is targeting companies building products and solutions that can benefit society across four key focus areas:
● Workforce development: Companies enabling equal access to education to prepare students and the workforce for jobs of the future.
● Equality: Companies developing tools that promote equal opportunity and economic empowerment for women and underrepresented groups.
● Sustainability: Companies creating better access to clean energy, improve resource efficiency and increase supply chain performance.
● Social sector: Companies amplifying impact for nonprofits and NGOs through technology that increases efficiency and transparency.
The first funding recipients of the Salesforce Impact Fund include:
● Angaza: A leading SaaS platform that enables manufacturers and distributors to make clean energy products more affordable to the world’s 1 billion off-grid consumers.
● Ellevest: An investing platform designed for women that aims to solve the gender investment gap.
● Hustle: A peer-to-peer text messaging platform enabling non-profits, educational institutions and advocacy groups to connect with donors and constituents at scale.
● Viridis Learning: A leading human capital SaaS platform that uses machine learning and predictive analytics to facilitate career discovery, create career pathways and ensure learning aligns with 21st century workforce needs.