Salesforce.com Launches $100 Million Salesforce1 Fund — techcrunch.com

The platform wars are still going strong, and Salesforce.com is adding a new weapon to its arsenal with the launch of its $100 million Salesforce1 Fund. The first dedicated fund launched by the cloud computing giant’s Salesforce Ventures group has one purpose, to woo innovative companies developing mobile applications and connected devices to develop on its platform. With the launch, the San Francisco-based Salesforce.com, formalizes a process that has been going strong for at least the past five years, according to John Somorjai, executive vice president of corporate development and strategy at Salesforce.com. As of July 31, 2014, Salesforce.com had invested $109.6 million in private companies, up from $77 million at the beginning of the year, according to the filing. In all, Salesforce.com’s investments in privately-held companies stood at $215 million as of July 2014.

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