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Salesforce is doling out money to mobile app start-ups

Business software firm wants to encourage development in Internet of Things.

By Jimmy Nicholls

Salesforce has announced a $100m venture capital fund for developers of mobile apps linked to its Salesforce1 business platform, with a focus on the Internet of Things (IoT).

Early investments for the Salesforce1 Fund include transactional manager DocuSign, fashion company i.am, telephony firm InsideSales and app creating platform Skuid.

John Somorjai, EVP of corporate development and strategy at Salesforce, said: "The Salesforce1 Fund will empower the most innovative start-ups in the industry to develop transformative technologies for salesforce.com’s customer platform.

"Our commitment to the next generation of start-ups has never been stronger."

The firm has invested in more than 100 business cloud start-ups since 2009, including note-taking software Evernote, and cloud storage providers Dropbox and Box.

"An investment from Salesforce Ventures is much more than money, it’s about a partnership first and foremost," said Scot Chisholm, founder and CEO of fundraising software firm StayClassy.

"It’s pretty incredible to have Salesforce Ventures believe in what we’re doing and stand by us as a partner and investor, as we advance philanthropy with the next generation of online fundraising."

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