Salesforce VC arm launches new $50m impact fund

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The venture capital arm of customer relations management giant Salesforce has launched a new $50m impact fund.

The new vehicle from Salesforce Ventures will look to accelerate the growth of companies using Salesforce technology to address challenges across workforce development, equality, sustainability and the social sector.

Salesforce corporate development EVP John Somorjai said, “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.

“We’re proud to broaden our focus on impact investing as part of our portfolio.”

The first funding recipients include Angaza, Ellevest, Hustle and ViridisLearning.

Angaza is an SaaS platform aiming to make clean energy products more affordable to the world’s one billion off-grid consumers, while Ellevest is an investing platform designed for women that aims to solve the gender investment gap.

Hustle is a peer-to-peer text messaging platform enabling non-profits, educational institutions and advocacy groups to connect with donors and constituents at scale, and Viridis Learning is an HR SaaS platform.

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