SiliconANGLE: Salesforce Partner Vlocity Raises $60M in Series C Funding Round

Salesforce Partner Vlocity Raises $60M in Series C Funding

Summary of article by Mike Wheatley for SiliconANGLE

Salesforce.com Inc. partner Vlocity Inc. is getting another dose of venture capital, raising $60 million in new funding.

The Series C round was led by Sutter Hill Ventures and Salesforce Ventures, with participation from new investor Bessemer Venture Partners and existing strategic investors Accenture and New York Life. It brings Vlocity’s total capital raised to date to $163 million.

Vlocity sells its products exclusively on the Salesforce AppExchange, and is focused purely on creating industry-specific functionality and processes for its partner’s customer relationship platform.

Because Vlocity has done this numerous times within entire industries, it can perform its customizations faster, better and at a lower cost than any company could do on its own.

Vlocity’s value proposition is that it takes care of all of the customization of Salesforce’s underlying platform that companies would otherwise have to do themselves. These customizations include things such as problem handling and workflow and product configuration.

Because Vlocity has done this numerous times within entire industries, it said, it can perform its customizations faster, better and at a lower cost than any company could do on its own. As a result, customers can achieve greater business agility and time-to-value, it said.

Read more here.