US-based data management software provider Splunk committed $150m to corporate venturing activities yesterday that will be invested through a vehicle called Splunk Ventures.
Splunk Ventures is operating a $100m innovation fund that will concentrate on developers of technologies that can convert data into business value, and will supply portfolio companies with market assistance, executive advice and access to its technology.
The company has also formed a $50m social impact fund that will target companies and other organisations aiming to use data to improve social issues such as sustainability or equality.
Ammar Maraqa, Splunk’s senior vice-president of strategy and corporate development, said: “At Splunk, we firmly believe that data offers unparalleled potential to make the world better. As the world’s data-to-everything platform, we have a responsibility to turn that potential into a reality.
“Through investments, the Splunk Ventures Social Impact Fund helps us make good on our promise to improve society, solve problems and promote positive change with data. We are proud to take this unique approach to the investment market, where we measure success not just on the bottom line, but also on societal impact.”
The innovation fund’s first investment is in Kavach, a US-based developer of cloud-native security technology for applications.
The company is yet to disclose details of any funding but its website lists networking technology provider Juniper Networks, March Capital Partners and The Fabric as its other investors.
Splunk Ventures has also inherited its parent company’s stakes in cybersecurity software provider Acalvio Technologies, skill analytics software producer TalentSky and brand experience platform developer Ksubaka. Splunk’s investments in the latter two had not been previously revealed.
