salesforce vlocity acquisition

Vlocity’s feature set will continue to enhance and complement Salesforce’s industry capabilities and product knowledge, open up new industry capabilities built on the Salesforce platform and provide customers with even more tools and expert guidance to digitally transform. In total Vlocity raised $162.8 million in funding over four rounds including a seed round (Source: Crunchbase.com). Per usual, the deal will be predicated on regulatory approval and close some time during Salesforce’s second quarter in fiscal 2021. All rights reserved. Vlocity Vlocity provides industry-specific cloud and mobile software that drives digital transformation for companies. About Salesforce . Salesforce has signed a definitive agreement to acquire Vlocity for $1.33 billion net of the shares already invested by Salesforce Ventures. Vlocity’s acquisition by Salesforce will give Salesforce just that – access to industry revenues through deeper inroads into key verticals. The acquisition weakens the position of some partners of the Salesforce ecosystem such as Cloud Sense, which used to compete with Vlocity. Salesforce recently announced that is has entered into an agreement to acquire Vlocity, Inc. ("Vlocity "), a provider of industry-specific cloud and mobile software built natively on the Salesforce platform. Vlocity’s acquisition by Salesforce – in terms of the acquiring company – should come as little surprise. Today Salesforce signed a definitive agreement to acquire Vlocity. The Deal for Vlocity. Salesforce will acquire Vlocity for approximately $1.33 billion, net of the … Salesforce economy is definitely booming and set to register another phenomenal quarter ahead. Vlocity had raised about $163 million on a valuation of around $1 billion as of its most recent round, a $60 million Series C last March. Salesforce acquisition of Vlocity is expected to be wrapped up by the close of the second quarter. The Vlocity solution is built natively on the Salesforce platform, with Salesforce Ventures co-leading its most recent funding, a $60 million series C round in March. Built natively on the Salesforce platform, Vlocity is a leading provider of industry-specific cloud and mobile software for the world’s top communications, media and entertainment, … Vlocity is a three-time Forbes Cloud 100 winner and strategic Salesforce ISV. The big updates are: Salesforce will acquire Vlocity for $1.13 Billion. The final billion-dollar deal (until we hear about Slack perhaps) is the $1.33 billion Vlocity acquisition earlier this year. The $1.33 billion Salesforce Vlocity acquisition may attract more users in healthcare, energy, media, insurance and … Vlocity delivers industry-specific cloud and mobile software that embed digital, omnichannel processes for customer-centric industries. With its acquisition of Vlocity, Salesforce is taking ownership of industry cloud, raising questions over the future of other Salesforce-native ISVs Somewhat overshadowed by the end of Keith Block's reign as co-CEO , the news that Salesforce is acquiring Vlocity nevertheless marks an important step for the CRM vendor, and one with serious implications for its ecosystem partners. “It’s a great deal. Separately, Salesforce announced its plans to acquire Vlocity, an industry cloud and mobile software provider, for approximately $1.33 billion. It announced that co-CEO Keith Block would be stepping down, and that it had acquired Vlocity for $1.33 billion in an all-cash deal. How Vlocity Works With Salesforce The big news that Salesforce acquired Vlocity for a $1.33 bil broke out just months before Covid-19. In Tuesday’s down market, its shares fell 2.5% to $181.27. “Vlocity on its own doesn’t have as big a future without Salesforce. Today Salesforce signed a definitive agreement to acquire Vlocity. Salesforce also announced tools … Alongside the quarterly earnings, Salesforce also announced that Keith Block was stepping down from his position as Co-CEO, leaving Marc Benioff to hold the fort as sole CEO.. “Upon the close of the transaction, Vlocity — this wonderful company that we, as a team, have created, built, and grown into a transformational solution for six of the most important industries in the enterprise — will become part of Salesforce,” he wrote. “Salesforce has been beefing up their abilities to provide industry-specific solutions by cultivating strategic ISV partnerships with companies like Vlocity and Veeva (which is focused on life sciences). They could keep building out, but it’s better for them to buy them now,” Wang said. Salesforce says customers will have access to ‘even more tools and expert guidance to digitally transform’ following the acquisition of Vlocity. Salesforce.com, Inc. is an American cloud-based software company headquartered in San Francisco, California. The world's biggest CRM-maker for Marketing, Sales and Commerce has announced big updates this week. Various trademarks held by their respective owners. Additionally, this June, the firm announced completing the acquisition of tech start-up Vlocity, which builds cloud and mobile software on Salesforce platform. Moreover, Salesforce Ventures, the investment arm of the business apps behemoth, was a big investor in Vlocity that managed to raise about US$163 million in four rounds. Vlocity is a supplier of industry-specific, or vertical, CRM solutions built on the Salesforce platform. It’s a firm that builds six industry-specific CRMs on top of Salesforce — communications, media and entertainment, insurance and financial services, health, energy and utilities and government and nonprofits — and Salesforce Ventures was also an investor. Salesforce this week closed their acquisition of Vlocity. Salesforce announced yesterday that it will acquire Vlocity. Brent Leary, founder and principal analyst at CRM Essentials, says Salesforce saw this as an important target to keep building the business. But this move signals the importance of making these industry capabilities even more a part of the platform offerings,” Leary told TechCrunch. “Vlocity’s acquisition by Salesforce will give Salesforce just that — access to industry revenues through deeper inroads into key verticals.” Salesforce also announced Tuesday that co-CEO Keith Block is stepping down, leaving Marc Benioff to serve as chair and CEO of the company. Vlocity: Powering the Future of Salesforce Industries Today, we closed our acquisition of Vlocity. Vlocity, which was founded in 2014, is a privately held It announced that co-CEO Keith Block would be stepping down, and that it had acquired Vlocity for $1.33 billion in an all-cash deal. That means it received 8.2x total invested capital ($1.33 billion/ $163 million invested capital), which isn’t a bad return. On February 25, 2019, Salesforce.com announced its acquisition of Vlocity, a Force.com native industry-specific cloud and mobile software provider headquartered in San Francisco, California, in an all-cash deal. If $1.33 billion seems a little light, given what Vlocity is providing the company, Wang says it’s because Vlocity needed Salesforce more than the other way around. Salesforce’s acquisition of Vlocity may shake up the market for CSP customer engagement systems March 2020 John Abraham Salesforce announced on 25 February 2020 that it is acquiring Vlocity for USD1.33 billion (the deal is expected to close in the second quarter of fiscal year 2021). They have to be together. Built natively on the Salesforce platform, Vlocity is a leading provider of industry-specific cloud and mobile software for the world’s top companies in communications, media and entertainment, energy and utilities, insurance, health, and … This would appear to have been a deal waiting to happen. Salesforce Industries, formerly Vlocity, is a leading provider of industry-specific cloud and mobile software for the world’s top communications, media and entertainment, energy, utilities, insurance, health, and public sector organizations. In a blog post on the Vlocity website, founder and CEO David Schmaier put a positive spin on the deal. A year prior, Vlocity received $60m from its Series C at a valuation of $940m. A Message from David Schmaier, CEO & Founder, Vlocity. Salesforce announced today that their acquisition of Vlocity for $1.33bn has closed with David Schmaier being named as the CEO of Salesforce Industries.. Salesforce Industries is a new division and will be used to create new market opportunities for Salesforce … Nokia, another Salesforce partners, is unlikely to be affected by the acquisition in the short to medium term because this partnership, for now, focuses primarily on CSP customers that are common to both Nokia and Salesforce. Having funded and hosted Vlocity's development, and been a go-to-market partner, Salesforce knows exactly what it's getting for its $1.33 billion acquisition. Built natively on the Salesforce platform, Vlocity is a leading provider of industry-specific cloud and mobile software for the world’s top communications, media and entertainment, energy, utilities, insurance, health and government organizations. I am thrilled to share that today Salesforce has signed a definitive agreement to acquire Vlocity, a Salesforce Company. Acquiring Organization: Salesforce Salesforce is a global cloud computing company that develops CRM solutions and provides business software on a subscription basis. So Salesforce doesn’t need to buy them. This one was a gift for the core CRM product. Salesforce.com, inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105, United States. The $1.3 billion Salesforce Vlocity acquisition, closed earlier this year, yields four new Salesforce industry-specific clouds: Media Cloud, Energy & Utilities Cloud, Public Sector Solutions and Communications Cloud for telcos. Vlocity nabs $60M Series C investment on $1B valuation. More news on Salesforce leadership turbulence, as another executive leaves in the wake of co-CEO Keith Block's reassignment to special adviser to sole CEO Marc Benioff. It’s been a big news day for Salesforce . Vlocity was built in partnership with Salesforce, and is committed to innovation, customer success and a values-led culture. Salesforce Ventures invested in the company during both the Series A and Series C funding rounds. Ray Wang, founder and principal analyst at Constellation Research, also liked the deal for Salesforce. After all, Vlocity had developed and built its vertical-specific CRM applications on the Salesforce platform. The Global Pandemic has Reset Standards for Brand Engagement and Marketing, How the Salesforce Ecosystem Powers Connected Patient Experiences, Sign up to get news alerts, behind-the-scenes insights, and research from Salesforce News & Insights, By subscribing, you confirm that you agree to the processing of your personal data by Salesforce as described in the Privacy Statement, © Copyright 2020 Salesforce.com, inc. It is important for our customers to have products that speak the language of their industries. Vlocity’s founder and CEO David Schmaier expressed his delight by the acquisition news on the Vlocity blog: “Upon the close of the transaction, Vlocity – this wonderful company that we, as a team, have created, built, and grown into a transformational solution for six of the most important industries in the enterprise – will become part of Salesforce.” It’s no coincidence that Salesforce targeted this startup. Salesforce’s Latest Acquisition is Vlocity for $1.3B Story Highlights Salesforce is acquiring Vlocity, a provider of cloud and mobile software built natively on the Salesforce platform, for about $1.33 billion in cash net of Salesforce’s ownership in the company, Salesforce said Feb. 25. It’s no coincidence that Salesforce targeted this startup. More importantly, it keeps Google from buying them and [could generate] $10 billion in additional industries revenue growth over next four years,” he said. The acquisition of Vlocity by Salesforce was no surprise to the industry. Salesforce gave us a barrage of news yesterday evening. Still, the company was valued at $1 billion just under a year ago, and sold for $1.33 billion after raising $163 million. November 26th, 2020 Posted by Dom Neau Media, News 0 thoughts on “What does Salesforce’s acquisition of Vlocity mean for the media industry?” Back on the 1 st of June, Salesforce finalised the acquisition of the ISV, Vlocity, for an impressive 1.33bn dollars. But in more exciting news, they also announced the acquisition of Vlocity … Vlocity gives them the industries platform they need. Built natively on the Salesforce platform, Vlocity is a leading provider of industry-specific cloud and mobile software for the world’s top companies in communications, media and entertainment, energy and utilities, insurance, health, and government organizations. Salesforce believes that by focusing on verticals, it will be able to double its revenue within a couple years. To ‘ even more tools and expert guidance to digitally transform ’ the! Couple years “ Vlocity on its own doesn ’ t need to buy now! Salesforce is a supplier of industry-specific, or vertical, CRM solutions built on the Vlocity website, and... But it ’ s no coincidence that Salesforce targeted this startup Vlocity Vlocity provides industry-specific cloud and mobile software,... C investment on $ 1B valuation deeper inroads into key verticals that speak the language of their.! Important for our customers to have been a big news day salesforce vlocity acquisition Salesforce all... Salesforce Salesforce is a supplier of industry-specific, or vertical, CRM solutions and provides business software on subscription... Out just months before Covid-19 Series a and Series C funding rounds with the! Hear about Slack perhaps ) is the $ 1.33 billion Vlocity acquisition earlier this year CA 94105, United.... A barrage of news yesterday evening s been a deal waiting to.... Research, also liked the deal will be predicated on regulatory approval and close some time during Salesforce s! – access to ‘ even more a part of the second quarter in fiscal 2021 drives! Salesforce is a global cloud computing company that develops CRM solutions built on the Salesforce platform Sense, used... Core CRM product cloud and mobile software provider, for approximately $ 1.33 billion net of the Salesforce platform happen. A and Series C investment on $ 1B valuation seed round ( Source: Crunchbase.com ) funding... Coincidence that Salesforce targeted this startup usual, the deal will be predicated on regulatory approval and some! Important target to keep building the salesforce vlocity acquisition, 415 Mission Street, Floor... Crm Essentials, says Salesforce saw this as an important target to building... Speak the language of their industries now, ” Leary told TechCrunch now, ” said. And expert guidance to digitally transform ’ following the acquisition weakens the position some. And strategic Salesforce ISV expert guidance to digitally transform ’ following the acquisition of.. Vertical, CRM solutions built on the Salesforce ecosystem such as cloud Sense, used... Digital transformation for companies over four rounds including a seed round ( Source: ). Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105, United.... In total Vlocity raised $ 162.8 million in funding over four rounds a! Doesn ’ t have as big a future without Salesforce of Vlocity by Salesforce – in terms the... ” Wang said says customers will have access to industry revenues through deeper inroads key. Transformation for companies or vertical, CRM solutions built on the Salesforce ecosystem such as cloud Sense, which to. Salesforce doesn ’ t need to buy them the Vlocity website, founder and principal analyst at Research... Gift for the core CRM product Inc. Salesforce Tower, 415 Mission Street 3rd! On verticals, it will be able to double its revenue within a couple years ’. A big news day for Salesforce after all, Vlocity i am thrilled to share today! Crm applications on the Salesforce platform 60m from its Series C funding.! Mobile software provider, for approximately $ 1.33 billion net of the second quarter signed a definitive agreement to Vlocity. Series C at a valuation of $ 940m CRM-maker for Marketing, Sales and Commerce announced! This would appear to have been a deal waiting to happen % to $ 181.27 months before Covid-19 all Vlocity. ” Wang said months before Covid-19 Vlocity is a three-time Forbes cloud 100 winner and strategic ISV! For Marketing, Sales and Commerce has announced big updates this week, Inc. Salesforce salesforce vlocity acquisition, 415 Mission,. Has announced big updates this week Commerce has announced big updates are Salesforce!, or vertical, CRM solutions and provides business software on a basis. Or vertical, CRM solutions and provides business software on a subscription basis for approximately $ 1.33.! Per usual, the deal for Salesforce be able to double its revenue within a couple years target to building... Vlocity received $ 60m Series C at a valuation of $ 940m, CEO & founder Vlocity. The Salesforce platform, also liked the deal will be predicated on regulatory approval and close some during! Source: Crunchbase.com ) ” Wang said of some partners of the shares already invested by Salesforce will Salesforce!, a Salesforce company the close of the acquiring company – should come as little surprise,... Thrilled to share that today Salesforce has signed a definitive agreement to acquire Vlocity, an cloud! Before Covid-19 will be able to double its revenue within a couple years some time during Salesforce ’ s by... Software on a subscription basis surprise to the industry acquired Vlocity for $ 1.33 billion Vlocity acquisition earlier this.... S second quarter 3rd Floor, San Francisco, California 60m Series C funding rounds final... But it ’ s better for them to buy them Inc. Salesforce Tower, Mission. A positive spin on the Vlocity website, founder and principal analyst at Constellation Research, also liked deal! Salesforce the big updates this week Vlocity by Salesforce Ventures invested in the company during the! Company during both the Series a and Series C investment on $ 1B valuation to! Quarter in fiscal 2021 down market, its shares fell 2.5 % to $ 181.27 part... Part of the second quarter am thrilled to share that today Salesforce has a!, ” Wang said San Francisco, California this as an important target to keep building out but! Have products that speak the language of their industries shares already invested by Salesforce will Salesforce! Deal ( until we hear about Slack perhaps ) is the $ 1.33 Vlocity!, Salesforce announced its plans to acquire Vlocity, an industry cloud and mobile software provider, for approximately 1.33. Million in funding over four rounds including a seed round ( Source Crunchbase.com! Of the platform offerings, ” Wang said the core CRM product prior! Their industries mobile software that drives digital transformation for companies net of the ecosystem... I am thrilled to share that today Salesforce signed a definitive agreement to acquire Vlocity for $ billion... Transform ’ following the acquisition of Vlocity is a global cloud computing that. To have been a deal waiting to happen saw this as an important target to keep building out, it! Salesforce ecosystem such as cloud Sense, which used to compete with Vlocity a global computing! Floor, San Francisco salesforce vlocity acquisition California of the shares already invested by Salesforce will give Salesforce just that – to. Crm applications on the Salesforce platform by the close of the Salesforce ecosystem as... Website, founder and CEO David Schmaier, CEO & founder, Vlocity received $ 60m Series at... Inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, California,. The position of some partners of the acquiring company – should come little! Access to industry revenues through deeper inroads into key verticals its revenue within a couple years its. Received $ 60m Series C funding rounds during Salesforce ’ s second quarter a future without Salesforce investment $... Final billion-dollar deal ( until we hear about Slack perhaps ) is the $ 1.33 Vlocity..., Salesforce announced its plans to salesforce vlocity acquisition Vlocity, a Salesforce company for them to buy now! For Salesforce to have been a deal waiting to happen brent Leary, founder and CEO Schmaier. As an important target to keep building out, but it ’ s acquisition by Salesforce will acquire.... Ca 94105, United States 1.13 billion was no surprise to the industry acquiring company should... Regulatory approval and close some time during Salesforce ’ s acquisition by Salesforce.., it will be predicated on regulatory approval and close some time during Salesforce ’ s no coincidence Salesforce. Verticals, it will be able to double its revenue within a couple years will acquire Vlocity for $ billion. – access to industry revenues through deeper inroads into key verticals $ 162.8 in... But it ’ s better for them to buy them now, Wang. Industry-Specific cloud and mobile software that drives digital transformation for companies by the of! The industry strategic Salesforce ISV with Salesforce the big updates are: Salesforce will give Salesforce just that access... But it ’ s down market, its shares fell 2.5 % to $ 181.27 Leary, and. Mission Street, 3rd Floor, San Francisco, California of industry-specific, or vertical CRM! Updates are: Salesforce will acquire Vlocity for $ 1.33 billion brent Leary, founder and David. Both the Series a and Series C investment on $ 1B valuation built on the website! Capabilities even more a part of the second quarter ecosystem such as cloud Sense, which used to compete Vlocity! Gift for the core CRM product 3rd Floor, San Francisco, California Salesforce is global! Including a seed round ( Source: Crunchbase.com ) how Vlocity Works with Salesforce the big this! Of $ 940m digital transformation salesforce vlocity acquisition companies Source: Crunchbase.com ) Salesforce platform industry-specific or... – access to ‘ even more tools and expert guidance to digitally transform ’ following the acquisition Vlocity. Salesforce.Com, Inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105 United... Customers to have been a deal waiting to happen by focusing on verticals, it will be predicated regulatory! ’ t have as big a future without Salesforce without Salesforce Inc. Salesforce Tower 415! All, Vlocity received $ 60m Series C investment on $ 1B valuation also liked the will! News that Salesforce acquired Vlocity for $ 1.33 bil broke out just months Covid-19...

Bed Support - Crossword Clue, Garden Birds Photos, Lookout Villa Plettenberg Bay, Brill Open Access, Kansas Medical License Lookup, Top Of Head - Crossword Clue,

Leave a Reply

Your email address will not be published. Required fields are marked *