Customer Relationship Management solutions provider Salesforce announced today the launch of a $100 million Impact Fund from the company’s strategic investment arm, Salesforce Ventures. The fund aims to 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. The launch marks the second Impact Fund from Salesforce Ventures, following the $50 million fund introduced in 2017 designed to support startups focused on driving positive social change.
Suzanne DiBianca, Chief Impact Officer and EVP of Corporate Relations at Salesforce, said:
“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. Through this new fund, Salesforce will invest in companies solving the world’s most pressing social and environmental challenges.”
According to Salesforce, the focus areas of the new fund include Education + Workforce Development; Sustainability; Diversity, Equity & Inclusion, and; Social Sector Technology. The fund will seek to invest in companies addressing issues such as equal access to high-quality education, job reskilling, access to clean energy, climate change solutions, and promotion of equal opportunity and empowerment for women and underrepresented groups, among others. In addition, the fund will target companies that can amplify impact for nonprofits, foundations and public sector customers through technology that increases efficiency and transparency.
John Somorjai, EVP of Corporate Development and Salesforce Ventures, said:
“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. We want to support next-gen entrepreneurs developing solutions that drive digital transformation and customer success, and also improve the state of the world.”