FY23
Year-in-Review
At Salesforce Ventures, we are enthusiastic about the long-term, positive impact of enterprise technology. In recent years, we all have experienced a myriad of changes, some of which are proving to be enduring.
While many of these shifts have come as a result of unpredictable global events, others have been spurred by positive advancements in technology that help organizations become more agile and resilient. We are grateful to be in business with many of the industrious teams bringing these developments to life and we strive to be a valued partner to them.
This past year brought new and unexpected challenges that tested the resolve and problem-solving skills of even the most experienced leaders. In such moments, we rely on our shared values of courage, equality, mutual success, and trust — timeless principles which guide our actions and decisions each day.
This past year also brought to the fore a new era in creation and automation through advances in artificial intelligence, which we believe represents a once-in-a-lifetime opportunity. We look forward to supporting companies globally across our core markets in enterprise technology including Generative AI, DevOps, Vertical SaaS, and Open Source.
We would like to share with you an overview of Salesforce Ventures in FY23.
By the Numbers
49
NEW INVESTMENTS IN FY23, INCLUDING*:
40%+
of DOLLARS investeD outside of THE US
30
COUNTRIES INVESTED IN SINCE 2009
20
ACQUISITIONS
2
IPOS
37
PORTFOLIO COMPANIEs HONORED ON THE 2022 CLOUD 100
INVESTMENTS
SALESFORCE VENTURES
We invest in enterprise technology companies globally at multiple stages through multiple vehicles, including: Salesforce Ventures, which invests in enterprise companies reinventing the way the world works, from early-stage through IPO; Slack Fund, which invests in early-stage future of work software startups; and Impact Fund, which invests in companies that can demonstrate a measurable social or environmental impact.
Below we share some of our focus areas for the year with investments from FY23 and previous years:
Commerce
Fintech
Next Gen GTM
Healthcare
Data & Infrastructure
Future of work & Collaboration
Security
INVESTMENTS
Slack Fund
Slack Fund focuses on investing in and collaborating with the best early-stage founders creating the next great enterprise software companies driving the future of work - and has deployed $150M in capital since 2015.**
In FY23, the Slack Fund made 11 new investments, including:
Five to Nine's easy-to-use platform helps organizers manage and evaluate company events - both virtual and in-person.
Primer unlocks B2C-level targeting and activation for B2B marketers. Precision targeting, better leads, and more efficient spend. All in a single platform.
Tango makes documentation easy, fast, and fun by automatically generating how-to guides while you work.
INVESTMENTS
Impact Fund
The Impact Fund’s mission is to invest in the most innovative enterprise software companies that drive measurable social and environmental impact across climate action, access to quality education and reskilling, financial inclusion, DE&I, and digital health.
In FY23, the Impact Fund made three new investments:
Oyster is a global employment company that builds a bridge between companies and the world’s top talent—so everyone, everywhere, has the chance to prosper.
Propel builds modern, respectful, effective technology that helps low-income Americans improve their financial health.
WeaveGrid’s platform solves some of the most critical EV-grid integration challenges to ensure that the impending energy transition is clean, equitable, and resilient.
OuR Programs, events & Partnerships
Salesforce Ventures has long been a proponent of values-led businesses. We are proud to support and partner with organizations that are intentional about impact on their employees, their customers, and the world and that are leading the way toward a more equitable future.
We are honored to have received the 2022 American Spirit Award from the National Venture Capital Association, which is awarded to an organization that exemplifies philanthropic leadership and an outstanding contribution to society.
Pledge 1% is a global movement that encourages and empowers companies to donate 1% of their time, equity, product, or profit back to their communities.
Our leadership event supports female-identifying and non-binary leaders from our portfolio and cloud investor community.
We're proud to support Black Venture Institute and its mission to foster more equity in the venture capital industry by increasing the number of Black venture & angel investors.
VC University is the definitive course in venture finance. We're honored to be a scholarship sponsor and help aspiring investors from underrepresented backgrounds break into venture capital.
Their mission is to inspire, empower, and accelerate the growth of women-led technology companies. This community-led initiative provides women with the tools, knowledge, and networks to succeed.
Based in the UK, Europe, and West Africa, this learning programme is designed to support Black women founders, helping them gain the tools to succeed in entrepreneurship.
In the spirit of sharing our values with our community, we invite companies across our portfolio in San Francisco, New York, and Tokyo to participate in a global day of volunteering.
THE Cloud 100
For the 7th year in a row, Salesforce Ventures, alongside Bessemer Venture Partners and Forbes, celebrated the release of the Cloud 100, the definitive list of the top private cloud companies in the world, and the 20 Rising Stars poised to join their ranks.
We were thrilled to celebrate 37 portfolio companies recognized on this year’s list and celebrated all of these outstanding cloud companies virtually and in-person at our Cloud 100 gala.
We also believe that values matter and are important to driving business impact and success. We are proud to see so many Cloud 100 companies that are intentional about their impact on their employees, their customers, and the world.
Dive into data, interviews, videos, and more from these CEOs to understand how they lead values-led businesses.
CXO Dinners
We hosted CXOs in-person at 12 dinners across seven cities - San Francisco, New York, Toronto, Sydney, London, Paris, and Tel Aviv. We also brought together portfolio and industry CEOs alongside Salesforce executives to learn more about the trends and innovations we’re seeing in areas including Sustainability, Data, Blockchain, Sales Enablement, and more.
INNOVATION ADVISORY BOARD
We are proud to have launched the Salesforce Ventures Innovation Advisory Board, a consortium of executives and technical leaders from leading public and private companies looking to solve their biggest technology pain points and enhance their digital transformations.
The Innovation Advisory Board (IAB) is a curated community where, alongside Salesforce Ventures, members share insights, leverage decades of learnings from peers, and facilitate key connections to drive innovation in the enterprise technology ecosystem. Membership in the IAB provides Salesforce customers and industry leaders a unique vantage point into how innovative companies in our portfolio are transforming entire industries – and access to emerging technology products to scale their own transformations.
The Innovation advisory board and robust network of executives represent many of Salesforce’s most strategic customers and partnerships. We hosted demo days for Salesforce strategic customers and in total have facilitated over 1,000+ introductions in the past year between our portfolio and Salesforce customers. We also hosted technology leaders at our inaugural Innovation Advisory Board Fall Summit in New York City, with leaders from corporations, including Eli Lilly, FedEx, Procter & Gamble, and PepsiCo.
Thank You
We’re grateful for the opportunity to partner with entrepreneurs who are reinventing the way the world works.
To our portfolio companies, industry partners, customers, and community: Thank you for your partnership. We are excited about the opportunity ahead and look forward to continuing to work with you in the new year!
* Investments during the timeframe of 2/1/2022 to 1/31/2023
** Approximate capital deployed since the inception of the program and as of 1/31/2023
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