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Salesforce starts $100M venture fund for ‘Internet of Customers’ technology

10/09/2014 by


Cloud computing giant Salesforce has set aside $100 million to invest in start-ups building technology for mobile devices.

Salesforce Ventures, the company’s investment arm, on Monday announced it had created the new fund to support companies that use Salesforce’s application development platform, Salesforce1.

This is part of Salesforce’s effort to create the “Internet of Customers,” a term chief executive Marc Benioff has used to describe his vision for the future: when businesses can reach their customers on any mobile device, anywhere. Benioff compared the “Internet of Customers” to the “Internet of Things” — a connected network of objects and mobile devices.

In its first round of investments, the Salesforce1 Fund has backed a handful of start-ups including DocuSign, which builds software to process electronic signatures, and, which sells business analytics services. Salesforce Ventures has previously invested in DocuSign, as well as DropBox, Evernote and Box, among others.

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