Salesforce’s global investment arm, Salesforce Ventures has announced the launch of a new $50 million Trailblazer Fund to empower the Australian startup ecosystem.
Salesforce Ventures is no stranger to local startup innovation. The company has invested in multiple Aussie startups in the past few years including Sqware Peg and Arxxus. Salesforce hopes the new fund will inspire further innovation from local entrepreneurs to deliver technology that drives success across all industries.
“Digital transformation is impacting businesses around the world and companies need to innovate faster and smarter to meet customer expectations today,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures.
“Salesforce Ventures recognises the incredible opportunity to invest in Australian entrepreneurs to create world-class startups that will grow the opportunity within the Salesforce ecosystem and deliver customer success.”
The Minister for Trade, Tourism and Investment, Simon Birmingham, said the Salesforce Ventures scheme will deliver vital support to the local ecosystem.
“Initiatives such as Salesforce Ventures’ new $50 million Australian Trailblazer Fund provide the valuable support and investment needed for startups to scale, employ Australians, and see their great ideas become great businesses. I congratulate Salesforce on its commitment to Australia with the launch of this new fund, and look forward to seeing the homegrown startups it supports scale and succeed at home and internationally,”Birmingham said.
Miguel Milano, President, International at Salesforce said the company is excited by the opportunity to fuel Australia’s startup ecosystem.
“We see significant opportunity through Salesforce Ventures to help Australia’s smartest entrepreneurs and best business ideas succeed here and on the world stage.”