Crunchbase News: Vlocity Has Raised $60 Million

Vlocity Has Raised $60 Million

Summary of article by Alex Wilhelm and Mary Ann Azevedo for Crunchbase News

Today, Vlocity Announced it Has Raised $60 million, Co-led by Sutter Hill Ventures and Salesforce Ventures

Founded in 2014, San Francisco-based cloud software startup Vlocity has built “industry-specific CRM (customer relationship management) solutions on the Salesforce platform,” per TechCrunch. It targets five verticals: communications and media; insurance and financial services; health; energy and utilities; and government and nonprofit.

Today the company announced a number of key results. First, the firm has raised $60 million, co-led by Sutter Hill Ventures and Salesforce Ventures. Second, that capital pushed its valuation to “above” $1 billion according to the firm, making Vlocity a fresh unicorn.

Vlocity targets five verticals: communications and media; insurance and financial services; health; energy and utilities; and government and nonprofit.

The funding takes the 700-person company’s total venture capital raised over time to $152.8 million, according to its Crunchbase profile. Notably, Vlocity took its time raising this Series C. Its last raise was a $50 million Series B that was announced in September 2016.

Read more here.