Wall Street Journal: Vlocity Raises $60 Million in Series C Funding

CRM Software Startup Vlocity Raises $60 Million

Summary of an article by Colin Kellaher and Tomio Geron for The Wall Street Journal

CRM Software Startup Vlocity Raises $60 Million in Series C Funding

Vlocity Inc., a startup that provides customer-relationship-management software targeting specific industries, on Tuesday said it raised $60 million in a Series C funding round led by Sutter Hill Ventures and Salesforce.com Inc.'s (CRM) venture-capital arm, Salesforce Ventures.

Vlocity said it will use the funds to accelerate and expand product development in its portfolio of industry cloud applications, which are built on Salesforce.com's platform.

Existing investors Accenture PLC (ACN) and New York Life Insurance Co., along with new investor Bessemer Venture Partners, also participated in the round, which brings Vlocity's total funding to $163 million.

Vlocity's valuation in the latest round wasn't disclosed, but TechCrunch.com reported it at $1 billion.

Vlocity said it will use the funds to accelerate and expand product development in its portfolio of industry cloud applications, which are built on Salesforce.com's platform.

Sutter Hill and Salesforce led a $50 million funding round for the San Francisco startup in September 2016.

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