Salesforce Ventures, the strategic investment subsidiary of enterprise software provider Salesforce.com, has taken part in a $20m round for US-based e-commerce software producer CloudCraze.
Venture capital and private equity firm Insight Venture Partners led the round, which follows $10.6m of funding secured from investors including investment firm Aktion Partners in August 2015, according to a regulatory filing.
CloudCraze has built a product on the Salesforce platform that enables companies to more easily sell to each other, allowing them to manager orders, subscriptions, payment and customer service.
Chris Dalton, chief executive of CloudCraze, said: “CloudCraze has pushed the boundaries in the B2B (business-to-business) commerce industry to deliver a fast, scalable and robust solution that is flexible enough to allow companies to stay ahead of market and customer demands.
“As a result, we have achieved triple-digit growth as a company in the last year. This funding marks a significant milestone for our company and the marketplace, further enabling growth for our company and B2B commerce on Salesforce.”