Salesforce Ventures, the strategic investment arm of US-based cloud computing company Salesforce.com, is putting aside $100m to fund European startups, it revealed today.
The unit has invested in more than 150 cloud computing startups since 2009, with its Europe-based portfolio including location data technology supplier CartoDB, marketing data technology developer Qubit and cloud call centre company NewVoiceMedia.
Salesforce is providing the cash to support a European public cloud software space expected to grow 12 times faster than other IT subsectors over the next four years, according to research by advisory firm IDC.
John Somorjai, executive vice president of corporate development for Salesforce, said: “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.
“Our $100m commitment strengthens our mission to help startups grow and give back to their communities.”