Salesforce Ventures: Building an Ecosystem Through Strategic Investments

What happens when a corporate venture arm thinks beyond traditional investing?

Salesforce Ventures has deployed over $850 million to back the next generation of AI companies, creating something far more valuable than a portfolio — they've built an ecosystem. This isn't a typical VC story of writing checks and hoping for returns.

📌 $6 billion invested across 630+ enterprise software businesses in 32 countries

📌 Check sizes from under $5 million for seed deals to $50+ million for growth companies

📌 Portfolio includes category-defining winners like 1Password, Lattice, and Glean

Here's what makes this interesting: Salesforce Ventures doesn't just invest in companies — they turn them into strategic partners. Their portfolio companies become a powerful window into innovation, directly feeding insights back into Salesforce's own product development. The recent launch of AgentForce? That's ecosystem thinking in action.

We're seeing something remarkable happen when corporate venture capital moves beyond financial returns to ecosystem building. With their latest $500 million AI fund announcement, Salesforce Ventures now has $1 billion committed to AI innovators in just 18 months — but the real question isn't about the money.

It's about the model. How do you create an investment approach that strengthens your core business while generating venture-level returns? And what happens when portfolio companies become true partners rather than just financial bets?

The Origin and Growth of Salesforce Ventures

"You must always be able to predict what's next and then have the flexibility to evolve." — Marc Benioff, CEO and Founder of Salesforce

Sometimes the best ideas come from necessity. Back in 2009, during the Great Recession, AppExchange partners were struggling to find funding. Marc Benioff and Head of Corporate Development John Somorjai saw both a problem and an opportunity — what if Salesforce could help? That simple question launched what would become one of the most successful corporate venture arms in tech.

From internal fund to global CVC leader

Picture this: a team of two people focused on supporting the AppExchange ecosystem. Fast forward to today, and Salesforce Ventures has grown into a sophisticated international operation with 39 professionals operating with a dual mandate — nurture the enterprise software ecosystem while generating top-tier venture returns.

We're watching something fascinating unfold here. The evolution of Salesforce Ventures mirrors the broader transformation of venture capital itself, from a relationship-driven cottage industry to a sophisticated multi-billion-dollar asset class. But here's where it gets interesting: they've created a unique model that blends traditional VC focus with corporate stability and resources.

Key milestones since 2009

The numbers tell quite a story. Since inception, over $6 billion deployed across 630+ enterprise software companies in 32 countries. But it's the outcomes that really matter: 34+ IPOs and 175+ acquisitions among portfolio companies.

Look at the roster: Anthropic, Box, Cohere, Databricks, DocuSign, Snowflake, Zoom. These aren't just investments — they're category-defining businesses that have shaped how we work.

The AI bet has been particularly bold. Over $850 million deployed from their $1 billion AI fund to support next-generation enterprise AI companies. When they announced an additional $500 million fund in September 2024, bringing their total AI commitment to $1 billion, it wasn't just about the money — it was a statement about believing AI represents the next major platform shift.

How the Slack Fund integration expanded reach

When Salesforce acquired Slack in 2021, something interesting happened. The Slack Fund — originally established in 2015 to support developers building Slack integrations — became part of Salesforce Ventures. This wasn't just an acquisition; it was an expansion of capability.

The Slack Fund had already evolved beyond its original mission, backing innovations shaping the Future of Work more broadly. Under Salesforce Ventures, it's deployed $180 million across 120 startups, backing winners like 1Password, Lattice, and Loom.

The 2023 launch of their third fund with $100 million — double the predecessor's size — shows the ambition. Now Salesforce Ventures can support founders throughout their entire journey, from seed funding through growth stages. That's ecosystem thinking at work.

Strategic Investment Focus Areas

"There’s no question we are in an AI and data revolution, which means that we’re in a customer revolution and a business revolution. But it’s not as simple as taking all of your data and training a model with it. There’s data security, there’s access permissions, there’s sharing models that we have to honor. These are important concepts, new risks, new challenges, and new concerns that we have to figure out together." — Clara Shih, CEO, Salesforce AI

Here's where things get interesting about Salesforce Ventures' approach — they don't just spread bets across random sectors. Their portfolio strategy spans the entire enterprise technology landscape with what they call "patient capital," thinking "in years and decades, not quarters" to support truly game-changing technologies.

AI and agentic technologies

The numbers tell the story: $850 million deployed from their $1 billion AI fund to back next-generation enterprise AI companies. Their AI portfolio now includes 35 companies with combined valuations exceeding $270 billion — positioning them as a major force in enterprise AI investing.

We're talking about market leaders like Anthropic, Cohere, Runway, TogetherAI, Mistral AI, and Hugging Face. But here's what caught our attention: recent investments like Writer Inc. show they're focused specifically on agentic AI platforms — the kind that help large businesses automate complex workflows and create entirely new processes.

Cloud infrastructure and SaaS

Something unique about Salesforce Ventures? They're the only strategic investor exclusively focused on backing enterprise cloud startups. This laser focus has given them unmatched expertise in spotting promising SaaS businesses across data infrastructure, security, horizontal SaaS, and vertical markets.

The vertical SaaS space has been particularly successful — eight of the top 20 companies from Forbes' Cloud 100 list come from this category. Portfolio companies like Vlocity and nCino prove how industry-specific solutions create exceptional value by speaking directly to customer needs and addressing unique sector challenges.

Digital transformation across every sector

Over the past decade, Salesforce Ventures has invested across commerce, data, integration, marketing, sales, security, financial services, and healthcare. This comprehensive approach means they can support businesses through every aspect of digital change — not just pieces of it.

Impact-driven ventures that deliver results

Beyond technology investments, Salesforce Ventures operates a dedicated Impact Fund targeting companies that drive measurable social and environmental change. They focus on five key areas: climate action, education and workforce development, equality, digital health, and social sector technology.

The results speak for themselves: in 2023 alone, their climate tech portfolio helped 45.8 million people access clean energy and reduced 12.7 million metric tons of CO2. Overall, the Impact Fund's portfolio directly served 107.8 million people that year while facilitating $72.80 million in grants and donations.

What's remarkable? They're proving that values-driven investing can deliver both impact and returns.

Building the Salesforce Ventures Ecosystem

When a startup joins their portfolio, something remarkable happens. They're not just getting an investor; they're joining one of the world's strongest communities of innovative companies. The networking opportunities alone are extraordinary — connecting founders with fellow entrepreneurs, thought leaders, and industry influencers who've walked similar paths.

But there's something even more valuable at play. That "Salesforce Ventures portfolio company" badge opens doors that would otherwise stay locked. Enterprise customers who might hesitate to work with an unknown startup suddenly take meetings. It's credibility that money alone can't buy.

Getting to market faster

Want to know what 15+ years of helping startups crack enterprise sales looks like? Salesforce Ventures has this down to a science.

They connect portfolio companies directly with Fortune 500 decision makers — not just any executives, but the right ones who actually make purchasing decisions. These aren't courtesy introductions; they're strategic connections that help startups showcase their solutions to precisely the audience that matters.

Their research into startup enterprise go-to-market strategies gives founders actionable playbooks for building sales teams, setting quotas, and navigating complex enterprise deals. It's mentorship with real teeth.

The Innovation Advisory Board advantage

The Innovation Advisory Board might be Salesforce Ventures' secret weapon. Picture this: technology executives from banking, energy, consumer goods, and pharma — all Salesforce customers — meeting regularly with portfolio startups.

Through Emerging Technology Demo Days and their annual Innovation Summit, these executives discuss data democratization, blockchain applications, and business process automation. For startups, it's like having a direct line to understand how enterprise customers actually think about and adopt new technology.

Real success stories

Take Hugging Face. After receiving approximately $200 million in Salesforce Ventures-led funding at a $4 billion valuation, CEO Clement Delangue explained what made the difference: "Salesforce Ventures brings the best of both worlds... financial rigor and alignment with the founding team... but also the practical enterprise approach."

Anthropic's experience tells a similar story. Their CFO Krishna Rao highlighted how Salesforce Ventures "provided valuable customer insights and helped Anthropic scale faster" — proving that patient capital combined with enterprise expertise creates extraordinary value.

The ecosystem works because it's built on genuine partnerships, not just financial transactions. Portfolio companies grow faster, and Salesforce strengthens its innovation pipeline. Everyone wins.

Values-Driven Corporate Venture Capital

Here's something most VCs won't tell you: the best returns often come from companies that care about more than just returns.

Salesforce Ventures operates on a simple but powerful philosophy: "values drive value". This isn't corporate speak — it's a fundamental belief that shapes every investment decision and creates an ecosystem where purpose and profit actually strengthen each other.

The 1-1-1 model and Pledge 1%

Back in its early days, Salesforce made a bold commitment: 1% of equity, technology, and employee time would go toward building a more equitable world. This 1-1-1 model seemed radical at the time. Who gives away equity when you're still trying to build a company?

The answer? Visionary leaders who understand that success should lift others up.

The model worked so well that in 2014, Salesforce challenged 500 companies to adopt similar practices through Pledge 1%. Today, this movement has grown to over 19,000 companies, with Salesforce Ventures helping more than 150 portfolio companies contribute over $2 billion to philanthropic causes.

Responsible AI and ethical investing

The AI boom has created a fascinating test case for values-driven investing. While everyone's rushing to deploy AI, Salesforce Ventures takes a different approach — they actively seek founders who build AI "in an ethical and responsible way".

Some might think this slows things down. The opposite is true. As one executive put it: "We like to say 'values drive value' — we don't think companies embedding ethics slows them down; it accelerates enterprise adoption". Trust becomes the competitive advantage. Enterprise customers aren't just looking for the smartest AI — they want AI they can trust with their business.

Diversity, equality, and long-term thinking

Want to see values in action? Look at the numbers. Their Impact Fund portfolio tells the story: 70% of companies have a female or underrepresented minority founder or CEO, while 85% feature diverse board members. These aren't diversity quotas — they're investments in companies led by people who understand different markets, challenges, and opportunities.

The result? This portfolio directly served 107.8 million people in 2023 alone.

What makes this approach work is patience. While other investors think in quarters, Salesforce Ventures thinks "in years and decades, not quarters". This long-term vision enables them to support visionary founders while prioritizing trust and responsibility — proving something important: when corporate venture capital aligns purpose with profit, everyone wins.

Looking ahead: The blueprint for corporate venture success

Here's what we've learned from Salesforce Ventures' journey: corporate venture capital works best when it stops acting like traditional VC.

Their approach proves something important — patient capital thinking "in years and decades, not quarters" creates more value than chasing quick wins. The $1 billion AI commitment isn't just about backing winners; it's about building an innovation pipeline that feeds directly back into product development.

But the real breakthrough? Portfolio companies aren't just investments — they're strategic partners. When Hugging Face or Anthropic joins the ecosystem, they get access to Fortune 500 decision-makers, specialized go-to-market expertise, and integration opportunities that pure financial investors simply can't provide. The Innovation Advisory Board amplifies this further by connecting startups directly with potential enterprise customers.

📌 "Values drive value"—this isn't corporate speak. Their 1-1-1 model and focus on responsible AI aren't just ethical positions; they're strategic advantages that accelerate enterprise adoption and build trust with customers.

What Salesforce Ventures has built represents the future of corporate venture capital. Instead of narrow strategic bets or short-term financial plays, they've created a self-reinforcing ecosystem where every investment decision strengthens the core business while generating venture-level returns.

The model is clear: when corporate VC aligns purpose with profit, builds true partnerships instead of just cutting checks, and thinks in decades rather than quarters, everyone wins. We look forward to seeing how this blueprint shapes the next generation of corporate venture success!

Great ideas scale faster with the right allies. Elpis Labs brings startups, CVCs, and innovators together — let’s connect and build what’s next.

FAQs

Q1. What is Salesforce Ventures and how does it operate? 

Salesforce Ventures is the strategic investment arm of Salesforce, focusing on backing enterprise software companies. It has invested over $6 billion in more than 630 businesses across 32 countries, providing not just capital but also strategic support and access to Salesforce's extensive network.

Q2. How does Salesforce Ventures support AI innovation? 

Salesforce Ventures has committed $1 billion to AI investments, with over $850 million already deployed to support next-generation enterprise AI companies. Their portfolio includes 35 AI-first companies with combined valuations exceeding $270 billion, positioning them as a leading investor in the enterprise AI landscape.

Q3. What benefits do startups gain from partnering with Salesforce Ventures? 

Startups in the Salesforce Ventures portfolio gain access to a strong community of innovative companies, networking opportunities, go-to-market support, and introductions to Fortune 500 decision-makers. They also benefit from Salesforce's expertise in enterprise sales and its Innovation Advisory Board.

Q4. How does Salesforce Ventures incorporate values into its investment strategy? 

Salesforce Ventures follows a "values drive value" philosophy, incorporating the 1-1-1 philanthropic model and promoting responsible AI development. They also focus on diversity and equality, with a significant portion of their Impact Fund portfolio led by female or underrepresented minority founders.

Q5. What are the key focus areas for Salesforce Ventures investments? 

Salesforce Ventures primarily invests in AI and agentic technologies, cloud infrastructure and SaaS, digital transformation startups, and sustainability and impact-driven ventures. They have a particular emphasis on enterprise cloud startups and vertical SaaS solutions.