Salesforce Ventures has announced the Salesforce Impact Fund from Salesforce Ventures, the company’s corporate investment group.
The new $50 million fund will accelerate the growth of 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 ViridisLearning.
“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.”
“At Salesforce, we’ve been committed to doing good as part of our business model since our founding and pioneering of the 1-1-1 model,” said Suzanne DiBianca, EVP Corporate Relations and Chief Philanthropy Officer, Salesforce. “The Salesforce Impact Fund allows us to support a new generation of startups that are focused on driving positive social change.”
“Ellevest is committed to unleashing women’s financial power and ending the gender gap in investing and personal finance,” said Sallie Krawcheck, CEO and co-founder, Ellevest. “We’re excited to receive an investment from the new Salesforce Impact Fund, given equality is one of Salesforce’s core values, and partner with them as we grow.”
“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 believes that businesses can be powerful platforms for change and is committed to serving the interests of all stakeholders, including customers, partners, employees, investors, our communities and the environment. Salesforce Ventures is uniquely positioned to catalyze the growth of companies who are building products and solutions to 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, improving resource efficiency and increasing supply chain performance.
- Social sector: Companies amplifying impact for nonprofits and NGOs through technology that increases efficiency and transparency.