Salesforce Ventures, the corporate venturing arm of enterprise software producer Salesforce, has co-led a $27m series A round for Israel-based application configuration software startup Salto.
The round was co-led with venture capital firms Bessemer Venture Partners and Lightspeed Venture Partners and disclosed as the startup emerged from stealth.
Salto has developed a software platform that helps companies integrate a range of enterprise apps covering areas like customer relationship management, on which Salesforce focuses, as well as finance, human resources and marketing automation.
Serial Israeli entrepreneurs Rami Tamir, Benny Schnaider and Gil Hoffer co-founded Salto for having previously run and sold Pentacom (acquired by Cisco), Qumranet (acquired by Red Hat) and Ravello Systems (acquired by Oracle).
Alex Kayyal, partner and head of international at Salesforce Ventures, said: “BizOps teams are becoming more and more crucial to the success of companies. With Salto they are empowered to meet the tasks they are charged with, equipped with modernised methodologies and a greatly enhanced toolbox.”
