Salesforce Ventures, the corporate venture capital subsidiary of enterprise software producer Salesforce, invested $40m in US-based text messaging platform operator Community on Friday.
Community has built an online platform that lets companies and individuals communicate with their customers and audiences through text messaging. Its customers include large and small organisations as well as local community organisers and celebrities.
The company claims to have facilitated more than 3 billion text messages on its platform, and more than 26 million people have registered to communicate with Community’s business customers.
The round took Community’s total funding close to $90m and it named Sony Innovation Fund, an investment vehicle for electronics producer Sony, as an existing investor along with live event promoter Live Nation, enterprise communication software developer Twilio and VC firm Sound Ventures.
Sarah Franklin, president and chief marketing officer of Salesforce, said: “Nothing is more important than creating and cultivating a community around your brand.
“Community lives at the intersection of trust, technology and culture, and is a powerful example of how organisations of any size can foster human connection to build meaningful relationships and drive growth.”