Latest news with #SalesforceVentures
Business Insider
12-05-2025
- Business
- Business Insider
How Marc Benioff's 'side hustle' scored a $600 million windfall from the Google-Wiz deal
Salesforce chair and CEO Marc Benioff says angel investing is a "side hustle." His returns say otherwise. Benioff — who shared his investing strategy with Business Insider in an interview — has backed some of Silicon Valley's biggest winners. Salesforce Ventures has $6.8 billion under management and has deployed $600 million of its $1 billion Generative AI Fund, including a first-quarter investment in Anthropic, according to a spokesperson. One of its biggest wins is the cybersecurity startup Wiz, which recently sold to Google for a whopping $32 billion. Salesforce Ventures, which first invested in Wiz's Series B in 2021, will make roughly $600 million on the deal, Benioff said. (Salesforce's profit on the Wiz acquisition has not been previously reported. A spokesperson for Salesforce Ventures declined to comment on the firm's profits from the Wiz acquisition, citing the ongoing nature of the deal.) "I worked directly with Assaf Rappaport," Benioff said, referring to Wiz's CEO and cofounder. "I enjoy working with entrepreneurs. I relate to them." It's a hands-on approach that in many ways mirrors the early mentorship Benioff, who runs Salesforce's venture arm and writes angel checks through his family office, Time Ventures, received in Silicon Valley. Founder mode Benioff's father, who owned a local department store in San Francisco, instilled in him an entrepreneurial spirit from an early age, which fueled Benioff's early career moves. In high school, Benioff sold his first startup, software that taught users how to juggle, to a computer magazine for $75. At 15, he founded Liberty Software, which made early computer games. While in college, Benioff spent a summer interning at Apple, writing code for the Macintosh team under cofounder Steve Jobs. It also gave Benioff an early mentor in Jobs. "There would be no without Steve Jobs," Benioff said in a 2013 interview with Entrepreneur magazine. Fast-forward a few decades, and Benioff is at the helm of Salesforce, a $255 billion market cap Fortune 500 software company, still thinking like a founder. Working with and investing in founders, Benioff said, encourages him to think more deeply about how he's running his own business. "I am one myself," Benioff said of being an entrepreneur. "I still feel like I'm running a company where you have to be able to adjust to the market as it adjusts and do whatever you can to be successful." Paying it forward Founders in Benioff's portfolio don't just get capital — they get his Rolodex. "I can offer way more value to these entrepreneurs than any venture capitalist," Benioff said. Benioff said that founders who stand out to him create a shared vision. "Many of these people are visionaries," he said. "They're seeing things that don't exist. Am I also able to see what they're seeing?" He also looks for entrepreneurs who have learned what works and what doesn't, and how to adapt based on that experience. One of those visionaries is Richard Socher, the founder of the AI-powered search engine "Marc has been an incredible supporter of my journey," Socher told BI in an email. "Not only did he lead our seed round for which also included the domain he had owned since 1996, Marc has opened his network to me, introducing me to early customers and CEOs at Fortune 100 companies." Benioff's Time Ventures invested in 's $20 million seed round in 2021, and Salesforce Ventures backed the company in its $25 million Series A in 2022 and its $54 million Series B in 2024, according to PitchBook. When asked about the AI boom, Benioff said he's still able to discern the most compelling companies from the bubbly ones, pointing to his investments in Socher's and the AI terminal startup Warp, which was founded by Benioff's cousin Zach Lloyd. "They have real revenue lines and real customers and real products that are offering real value," Benioff said. "When you see that, then you've got to say, 'That's a real company.'" Benioff invested in Warp's $17 million Series A1 in April 2022, according to PitchBook. This reality-based outlook is necessary when investing in startups with under $100 million in revenue, which Benioff called "fragile companies." It also prevents him from romanticizing early-stage investing, which he doesn't think is right for everyone. "I don't encourage my family and friends to get involved in this," he added. "It's very high risk. Most of these companies do not work out." Amid the AI hype cycle and a boom in venture investing, Benioff still sees founders' grit — even in himself. It's a mentality he, after decades of building Salesforce into a giant, hasn't quite yet shaken. "We still pivot like an entrepreneur has to pivot," Benioff said. "We're still in founder mode at Salesforce. We're just a 75,000-person startup — there's no difference."
Yahoo
24-04-2025
- Business
- Yahoo
Endor Labs raises $93m to expand AI-focused security platform
US-based application security company Endor Labs has raised $93m in its oversubscribed Series B funding round. The round was led by DFJ Growth, with additional participation from Salesforce Ventures and existing investors including Lightspeed Venture Partners, Coatue, Dell Technologies Capital, Section 32 and Citi Ventures. The company, founded by Varun Badhwar and Dimitri Stiliadis, offers a platform designed to address security risks in the era of AI-generated code. Endor Labs' tools integrate with AI-powered programming assistants and are used by clients such as Dropbox, Egnyte, OpenAI, Peloton, Rubrik and Snowflake. According to the company, its platform currently secures more than five million applications and performs more than one million scans per week. Endor Labs plans to use the newly raised capital to expand its platform capabilities, grow its engineering team and support global go-to-market initiatives. Endor Labs co-founder and CEO Varun Badhwar said: 'We are building for the scale required to secure this AI era and not letting intermediate market volatility diverge us from our big goals. 'Our marquee customers need an application security platform that supports the pace of development they are confronting with AI. 'It is an honour to be that platform, to do a raise proactively, at a time like this, and to get to work with such quality investors, who share our commitment to excellence and innovation.' Since its Series A funding 18 months ago, Endor Labs has reported a 30-fold increase in annual recurring revenue and a net revenue retention rate of 166%. DFJ Growth venture partner Ramin Sayar said: 'Developers' increasing reliance on AI-generated code further complicates the challenge for security teams. 'Endor Labs embraces this shift with their unparalleled expertise in rethinking security from the ground up – and outing risky AI-generated code and uniquely optimising remediation strategies.' "Endor Labs raises $93m to expand AI-focused security platform" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Forbes
16-04-2025
- Business
- Forbes
The Cloud 100 2025: Submissions Open For The 10th Annual Ranking Of The Best Private Cloud Companies
Think your company deserves a spot among the best in cloud? Apply now through April 30 at Produced in partnership with Bessemer Venture Partners and Salesforce Ventures, the Cloud 100 honors the world's top private cloud companies — and this year marks a major milestone: our tenth anniversary. Since its inception, the list has become the definitive ranking of cloud excellence, recognizing companies before they become household names. Alumni include Dropbox, Snowflake, Zoom, and more recently, IPO standouts like Klaviyo and Rubrik. As generative AI has taken over the tech industry, some of its biggest impacts have been in the enterprise. For example, OpenAI, number one on last year's Cloud 100, has tallied 1 million paid users for ChatGPT Enterprise, a version of the popular bot tailored for corporate customers. Meanwhile, thanks to the success of the Chinese company DeepSeek, which seemingly developed advanced AI models with a fraction of the resources of American companies, startups everywhere have been focused on more efficient ways to train their models. Even companies not primarily focused on AI, like fintech darling Ramp or design giant Canva, have increasingly incorporated AI tools into their products. Forbes Read more The Cloud 100 is powered by both quantitative and qualitative analysis. Nominees submit confidential financial metrics (within provided ranges), including valuation, revenue and growth rate. These help inform a financial score, which is combined with a people & culture score — based on headcount, diversity, and employee satisfaction data — and a market leadership score, based on feedback from dozens of public-cloud CEOs and executives. Companies do not pay a fee for list placement or consideration. Early-stage startups can also apply for the Cloud 100 Rising Stars, a companion list spotlighting 20 promising companies that have raised less than $25 million but are poised to break out. Notable past honorees include Canva and Grafana Labs. Candidates should apply through the same submission process. The 2025 Cloud 100 list will be published in August with robust editorial coverage, company profiles, and exclusive video features. Later in the year, honorees will be invited to a private event with panels and programming celebrating cloud's brightest innovators. Nominate your company today at Deadline: April 30.
Yahoo
16-04-2025
- Business
- Yahoo
Graze Raises $1M to Take Back Social Media from Algorithmic Control
Backed by Betaworks and Salesforce Ventures, Graze Puts Users in Charge of Their FeedsPORTLAND, Ore., April 16, 2025 (GLOBE NEWSWIRE) -- Social media has long been dictated by opaque algorithms, but Graze is proving there's another way. Today, the company announced $1 million in pre-seed funding to fuel its mission of empowering users to create and control their own social media feeds on Bluesky. Instead of being force-fed content by traditional platforms, individuals and organizations can now build their own custom feeds — taking back control from algorithm-driven gatekeeping. The round was led by Betaworks and Salesforce Ventures, with additional backing from Factorial, Apertu Capital, Skyseed, and angel investors from Mozilla and Protocol Labs. 'Betaworks has long been a backer of and believer in the open web and Graze represents a huge step forward in making social media a more open, user-controlled environment,' said Jordan Crook, partner at Betaworks. 'Together with Bluesky, the Graze team is building a participatory social media culture where feeds are created, curated, and consumed by individual users.' 'At Graze, we're committed to dismantling the restrictive barriers of traditional social media platforms,' said Peat Bakke, CEO and co-founder of Graze. "By leveraging open infrastructure, we're empowering users to curate their own content experiences, ensuring they have the autonomy to shape their social media interactions according to their preferences.' A New Era of Social Media is Taking Shape Journalists and news outlets are leaving traditional social media in large numbers, seeking better platforms to share their stories. The Guardian, for example, stopped posting on X over concerns about harmful content and has turned to Bluesky instead. The shift is already having a tangible impact—traffic from Bluesky to The Guardian's website is now twice that of Threads, and nearly 1 million people have accessed news directly through feeds created on the Graze platform. The trend is clear: both journalists and readers are moving toward independent, user-driven platforms. "Graze is already showing real traction on Bluesky. Their success highlights that people want meaningful control over their social feeds," said Rose Wang, COO of Bluesky. Since its launch in November 2024, Graze has delivered curated content to approximately 1.8 million Bluesky users, representing a significant portion of the platform's active user base. This rapid adoption highlights the growing demand for personalized, algorithm-free content experiences. Empowering Media and Content Creators Graze equips media brands and content creators with the tools they need to take back control of how their content is distributed and consumed. With Graze, they can: Boost Visibility – Custom feeds ensure content reaches targeted audiences, increasing engagement. Maintain Editorial Integrity – Full control over feeds allows creators to align content with their brand's voice and values. Access In-Depth Analytics – Data-driven insights help optimize content strategies based on real audience interactions. Fueling Developer Innovation on Bluesky Graze also empowers developers by offering flexible tools to build and customize new experiences on Bluesky, including: No-Code Feed Creation – A visual editor enables quick, custom feed design without complex coding. Advanced Content Filtering – Support for complex logic combinations allows for fine-tuned content curation. Real-Time Updates – Instant feed updates ensure users always get the most current content. The Future of Social Media is Built for Users, Not Billionaires 'Social media shouldn't be controlled by billionaires, it should belong to the people," said Devin Gaffney, CTO and co-founder of Graze. "We've moved beyond the outdated, closed-platform model by embracing an open-source ecosystem that puts users and creators in control. The future of social media is about transparency, choice, and giving people the power to shape their own experience.' As Bluesky continues to gain momentum, Graze is committed to accelerating its growth, with a vision to help Bluesky reach 100 million users by the end of the year. By prioritizing openness, autonomy, and user-driven content, Graze is reshaping the future of social media, one feed at a time. About GrazeGraze enables users to create custom feeds on Bluesky, providing tools that allow individuals and organizations to design and control their social media experience. By offering sophisticated building blocks akin to those used by major social media companies, Graze empowers users to curate content that aligns with their interests and values. Committed to transparency and user empowerment, Graze is redefining how people interact with social media. For more information, visit Media Contact: Juliet TravisLiftoff Communicationsjuliet@ A photo accompanying this announcement is available at
Yahoo
08-03-2025
- Business
- Yahoo
9 US AI startups have raised $100M or more in 2025
Last year was a monumental year for the AI industry in the U.S. and beyond. There were 49 startups that raised funding rounds worth $100 million or more in 2024, per our count at TechCrunch. Three companies raised more than one "mega-round" last year, and seven companies raised rounds at $1 billion or larger. How will 2025 compare? It's still early in the year but the number of U.S. AI companies that have raised more than $100 million is almost in double digits, and there has already been one round larger than $1 billion. Here are all the U.S. AI companies that have raised more than $100 million so far this year. AI research and large language model company Anthropic raised $3.5 billion in a Series E round that valued the startup at $61.5 billion. The round was announced on March 3 and was led by Lightspeed with participation from Salesforce Ventures, Menlo Ventures, and General Catalyst, among others. Together AI, which creates open source generative AI and AI model development infrastructure, raised a $305 million Series B round that valued the company at $3.3 billion. The February 20 round was co-led by Prosperity7 and General Catalyst with participation from Salesforce Ventures, Nvidia, Lux Capital, and others. AI infrastructure company Lambda raised a $480 million Series D round that was announced on February 19. The round valued the startup at nearly $2.5 billion and was co-led by SGW and Andra Capital. Nvidia, G Squared, ARK Invest, and others also participated. Pittsburgh-based Abridge, an AI platform that transcribes patient-clinician conversations, was valued at $2.75 billion in a Series D round that was announced on February 17. The $250 million round was co-led by IVP and Elad Gil. Lightspeed, Redpoint, and Spark Capital also participated, among others. Eudia, an AI legal tech company, raised $105 million in a Series A round led by General Catalyst. Floodgate, Defy Ventures, and Everywhere Ventures also participated in the round in addition to other VC firms and numerous angel investors. The round closed on February 13. AI hardware startup EnCharge AI raised a $100 million Series B round that also closed on February 13. The round was led by Tiger Global with participation from Scout Ventures, Samsung Ventures, and RTX Ventures, among others. The Santa Clara-based business was founded in 2022. AI legal tech company Harvey raised a $300 million Series D round that valued the 3-year-old company at $3 billion. The round was led by Sequoia and announced on February 12. OpenAI Startup Fund, Kleiner Perkins, Elad Gil, and others also participated in the raise. Synthetic voice startup ElevenLabs raised a $180 million Series C round that valued the company at more than $3 billion. It was announced on January 30. The round was co-led by ICONIQ Growth and Andreessen Horowitz. Sequoia, NEA, Salesforce Ventures, and others also participated in the round. Hippocratic AI, which develops large language models for the healthcare industry, announced a $141 million Series B round on January 9. This round valued the company at more than $1.6 billion and was led by Kleiner Perkins. Andreessen Horowitz, Nvidia, and General Catalyst also participated, among others. Sign in to access your portfolio
