Salesforce’s corporate investment arm Salesforce Ventures granted a fund worth $50 million to Australian tech startups last March 2019. This funding aims to inspire entrepreneurs in Australia to continue developing tech products that will benefit customers from all possible industries.
Why Invest in Australia?
Salesforce has seen excellent potential in the startups based in the country, with around 45% of them creating and providing Software-as-a-Service (SaaS) products. Most of these budding companies are seeking financing in order to scale. Hence, Salesforce decided to lend a hand because once these startups develop into full-fledged tech companies, the Australian economy will improve by as much as 25% due to software and technology.
The tech giant has been continuously supporting innovative startups in Australia since 2012. Some notable and now-successful startups that previously received funding and support from Salesforce include the following:
- Socialsuite – a developer of impact-management software that aims to help organizations in tracking how they impact their target customers and audiences
- Bugcrowd – a company focused on providing solutions for customer protection and security challenges through an excellent tech platform
- Practifi – a cloud-based business management platform for both local and global financial advice firms
- Arxxus – an APAC-focused Salesforce services partner delivering cloud-based solutions for a variety of industries
These startups grew into strong tech companies supporting a wide range of local and international industries such as real estate, government, security services, finance, and nonprofits.
The Australia Trailblazer Fund aims to fund more similar startups to fuel Australian entrepreneurs and bring Salesforce closer to the country.
Unveiling the Funds at World Tour Sydney
Salesforce Ventures presented the Australia Trailblazer Fund during the Salesforce World Tour Sydney last March 2019. It took place at The Sydney International Convention Centre and was attended by several tech people and Trailblazers. Chief Product Officer Bret Taylor announced the news to the jam-packed crowd.
Salesforce World Tour Sydney is where Salesforce introduces its Customer Success Platform to its Australian audience. The event showcases the ways in which Trailblazers connect customers, improve overall business experiences, and create meaningful innovations, all for the goal of improving business-customer relationships.
Success for All
In summary, Salesforce Ventures gave a $50 million fund for Australian tech startups last March 2019. The ultimate goal is success for all – startups, customers, and Salesforce alike. Australia has a rich tech market teeming with startups that, when properly supported, will have the potential to become successful companies changing the lives of their fellow locals and the world.