salesforce vlocity acquisition
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salesforce vlocity acquisition

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. 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. The world's biggest CRM-maker for Marketing, Sales and Commerce has announced big updates this week. Still, the company was valued at $1 billion just under a year ago, and sold for $1.33 billion after raising $163 million. Vlocity Vlocity provides industry-specific cloud and mobile software that drives digital transformation for companies. Vlocity: Powering the Future of Salesforce Industries Today, we closed our acquisition of Vlocity. The final billion-dollar deal (until we hear about Slack perhaps) is the $1.33 billion Vlocity acquisition earlier this year. But in more exciting news, they also announced the acquisition of Vlocity … Vlocity’s acquisition by Salesforce – in terms of the acquiring company – should come as little surprise. Acquiring Organization: Salesforce Salesforce is a global cloud computing company that develops CRM solutions and provides business software on a subscription basis. It is important for our customers to have products that speak the language of their industries. 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. Vlocity nabs $60M Series C investment on $1B valuation. Vlocity is a three-time Forbes Cloud 100 winner and strategic Salesforce ISV. 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. Salesforce believes that by focusing on verticals, it will be able to double its revenue within a couple years. 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. 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. Various trademarks held by their respective owners. Salesforce gave us a barrage of news yesterday evening. “It’s a great deal. Per usual, the deal will be predicated on regulatory approval and close some time during Salesforce’s second quarter in fiscal 2021. Separately, Salesforce announced its plans to acquire Vlocity, an industry cloud and mobile software provider, for approximately $1.33 billion. 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.” They have to be together. Vlocity delivers industry-specific cloud and mobile software that embed digital, omnichannel processes for customer-centric industries. 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.. 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. 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 … 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. 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, which was founded in 2014, is a privately held Salesforce.com, inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105, United States. Vlocity gives them the industries platform they need. Salesforce acquisition of Vlocity is expected to be wrapped up by the close of the second quarter. Brent Leary, founder and principal analyst at CRM Essentials, says Salesforce saw this as an important target to keep building the business. Salesforce also announced tools … How Vlocity Works With Salesforce The big news that Salesforce acquired Vlocity for a $1.33 bil broke out just months before Covid-19. Salesforce this week closed their acquisition of Vlocity. The acquisition of Vlocity by Salesforce was no surprise to the industry. The acquisition weakens the position of some partners of the Salesforce ecosystem such as Cloud Sense, which used to compete with Vlocity. A year prior, Vlocity received $60m from its Series C at a valuation of $940m. Salesforce says customers will have access to ‘even more tools and expert guidance to digitally transform’ following the acquisition of Vlocity. In a blog post on the Vlocity website, founder and CEO David Schmaier put a positive spin on the deal. Salesforce announced yesterday that it will acquire Vlocity. Vlocity’s acquisition by Salesforce will give Salesforce just that – access to industry revenues through deeper inroads into key verticals. Ray Wang, founder and principal analyst at Constellation Research, also liked the deal for Salesforce. “Vlocity on its own doesn’t have as big a future without Salesforce. 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. So Salesforce doesn’t need to buy them. Additionally, this June, the firm announced completing the acquisition of tech start-up Vlocity, which builds cloud and mobile software on Salesforce platform. 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. 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. But this move signals the importance of making these industry capabilities even more a part of the platform offerings,” Leary told TechCrunch. It’s been a big news day for Salesforce . This one was a gift for the core CRM product. It’s no coincidence that Salesforce targeted this startup. All rights reserved. About Salesforce . 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. Today Salesforce signed a definitive agreement to acquire Vlocity. That means it received 8.2x total invested capital ($1.33 billion/ $163 million invested capital), which isn’t a bad return. 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 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. In Tuesday’s down market, its shares fell 2.5% to $181.27. 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 … It’s no coincidence that Salesforce targeted this startup. 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. This would appear to have been a deal waiting to happen. I am thrilled to share that today Salesforce has signed a definitive agreement to acquire Vlocity, a Salesforce Company. 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. “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. Today Salesforce signed a definitive agreement to acquire Vlocity. After all, Vlocity had developed and built its vertical-specific CRM applications on the Salesforce platform. “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). 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. More importantly, it keeps Google from buying them and [could generate] $10 billion in additional industries revenue growth over next four years,” he said. They could keep building out, but it’s better for them to buy them now,” Wang said. 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 economy is definitely booming and set to register another phenomenal quarter ahead. A Message from David Schmaier, CEO & Founder, Vlocity. Vlocity is a supplier of industry-specific, or vertical, CRM solutions built on the Salesforce platform. The Deal for Vlocity. 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. “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. In total Vlocity raised $162.8 million in funding over four rounds including a seed round (Source: Crunchbase.com). Salesforce will acquire Vlocity for approximately $1.33 billion, net of the … 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. 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). 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. 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. Salesforce.com, Inc. is an American cloud-based software company headquartered in San Francisco, California. The big updates are: Salesforce will acquire Vlocity for $1.13 Billion. 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