Salesforce said its global corporate investment group Salesforce Ventures will invest $100 million in European start-ups to support cloud innovation and customer success in the region.
“There is so much incredible innovation happening in Europe today and we want to empower the next generation of enterprise cloud startups in the region,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures, Salesforce.
Since 2009, Salesforce Ventures has been investing in the next generation of enterprise cloud startups that are part of the emerging global enterprise app economy.
Salesforce Ventures portfolio companies receive funding to accelerate their growth and gain a competitive edge through access to the world’s largest cloud ecosystem and the guidance of Salesforce innovators and executives.
The Salesforce Ventures portfolio includes innovative European cloud companies such as CartoDB, CloudSense, Cloud9 IDE, NewVoiceMedia, Qubit, Universal Avenue and YOUR SL.
Research agency IDC forecasts that Europe’s public cloud software market will grow almost 12 times faster than other IT segments to reach €33.3 billion by 2019.
Salesforce said the global shift to the cloud has opened the door to new social, mobile and data science technologies, and has created unprecedented growth in cloud computing spending by companies across Europe.
In September, Salesforce said global payment services provider Western Union is using the power of Sales Cloud, Community Cloud, Analytics Cloud and App Cloud to automate previously paper-based processes.