Friday, April 17, 2015

Cloud Startup Vlocity Scores $42.8 Million From Salesforce Ventures and Accenture

Cloud startup Vlocity has raised $42.8 million in funding round led by Salesforce Ventures (Salesforce's corporate investing arm). Accenture, a US-based consulting and technology company, also participated in the funding round.

Tyler Prince, EVP, WW Alliances and Channels for Salesforce said in a statement that: “Salesforce is partnering closely with Vlocity to build industry-specific cloud applications in targets markets where customer-centric engagement is critical.”

Vlocity CEO and founder David Schmaier said in a statement: “Vlocity's industry-specific cloud and mobile solutions help companies deliver high quality, unified and omni-channel customer experiences that are tailored to the unique requirements of their industry”, and also added that: “Many companies and IT executives feel trapped by on-premise CRM systems that do not provide the agility or flexibility necessary to meet increasing customer demands across channels.”

Founded in 2014 by former Siebel Systems founding executive David Schmaier and Veeva systems co-founder Craig Ramsey, Mark Armenante, Young Sohn and former Netsuite worldwide sales leader james Ramsey. Vlocity is the world's first multi-industry cloud software company on the Salesforce1 Platform. It offers three industry applications on the Salesforce AppExchange: Vlocity Communications, Vlocity Insurance and Vlocity Health Insurance. 

Salesforce Ventures has been quite busy lately, recent investment include engagement platform Livefyre, predictive analytics firm InsideSales and price to quote app developer SteelBrick.

About Vlocity, Inc.
Vlocity is a leading Industry Cloud software company with deep expertise in vertical applications, empowers companies to deliver a unified and industry-specific customer experience. 

About Accenture
Accenture is a leading management consulting, technology  and outsourcing company, with approximately 319,000 people serving clients in more than 120 countries. 

About Salesforce Ventures
Salesforce Ventures  (Salesforce’s corporate investment arm) the group invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. It has invested in more than 100 enterprise cloud startups since 2009.  

Image Credit: ZDnet and Finsmes

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