Vlocity Raises $50 Million in Funding

SAN FRANCISCO, CA--(Marketwired - Sep 20, 2016) - Vlocity Inc., a leading industry cloud company, today announced that it raised $50 million in a funding round led by Sutter Hill Ventures. The round includes participation from strategic investors including Salesforce Ventures, Accenture, New York Life, Kennet Partners, TDF Ventures, and Wildcat Venture Partners.

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Vlocity empowers companies to deliver unified, industry-specific customer experiences in customer-centric industries, including Communications and Media, Insurance, Health Insurance and the Public Sector. Leading customers deploying Vlocity industry cloud applications include Sky Italia, Cellcom, Fastweb, New York Life and the City of Toronto.

Vlocity industry cloud apps are modern cloud and mobile software that embed industry-specific functionality, best practices and business processes. Built in partnership with Salesforce, the world's #1 CRM company, Vlocity industry cloud apps leverage the omni-channel capabilities of the Salesforce Customer Success Platform to enable companies to achieve faster business agility and time-to-value from the cloud.

"A fundamental shift to the industry cloud is underway, and Vlocity has emerged as a first mover and clear leader," said Jim White, managing director of Sutter Hill Ventures. "Vlocity is the first company we've seen that has combined a deep domain expertise in industry-specific CRM, a cloud-based platform delivery model, and an advanced product portfolio serving several massive markets. We have known David Schmaier, Vlocity's CEO and Founder, since the early days of the CRM software industry, and he has built an impressive team and winning strategy with Salesforce that will drive massive value for companies in their target industries."

"We're excited to have Vlocity contributing to the incredible innovation occurring in the Salesforce ecosystem," said John Somorjai, EVP of Corporate Development and Salesforce Ventures, Salesforce. "Vlocity has proven that even the largest and most complex on-premise CRM systems can easily migrate to the cloud -- an amazing testament to the growth potential and power of the Salesforce platform."