Salesforce today announced that Salesforce Ventures, the company’s global corporate investment group, has launched a £99m Europe Trailblazer Fund to continue to fuel enterprise cloud startups. Salesforce Ventures was the most active Corporate VC in Europe last year and has invested in companies pioneering digital payments, machine vision, artificial intelligence, blockchain and the API economy.
“Europe is a clear leader in cloud technology today, and we are excited to deepen our investment in the region,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures.
“Our commitment to European startups reflects the growth of innovation, our belief in the local entrepreneurs and our focus on creating the world’s largest ecosystem of enterprise cloud companies to drive customer success.”
There was £22bn invested in European and Israeli startups last year, representing over a three times growth compared to the level in 2013. Of the overall funding, SaaS companies received more than 35%.
The global shift to the cloud has created new, cutting-edge technology that has fueled customer success across industries. IDC forecasts that the EMEA public cloud services market will more than double between 2018 and 2023, surpassing £83bn in 2023.
“We see tremendous opportunity to invest in companies across Europe as this market continues to grow at scale,” said Miguel Milano, President, International at Salesforce. “At Salesforce, we focus on backing ambitious entrepreneurs who are building the most innovative solutions to support our customers’ digital transformation.”