2025 Year in Review

The bridge from enterprising to enduring

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It feels like the world moves faster and faster with each passing year. As investors, it’s our job to help drive innovation forward.

Looking back on 2025, we’re struck by the relentless pace of innovation.

From agents and robotics to novel energy sources and defense tech, AI is reshaping our world faster than we ever thought possible. At Salesforce Ventures, we remain driven by our mission to nurture these world-changing ideas and teams — and we bring decades of collective experience to that mission.

From the breakout SaaS companies of the early 2010s to the most revolutionary startups of the cloud computing era, and now the unbounded potential of AI, Salesforce Ventures' focus has always been identifying and investing in these profound technological shifts. We help bring them to the forefront with patient capital, coveted community, and unique access.

In the AI age, these waves of innovation are happening faster than ever. Since our first investment in Anthropic in March of 2023, we've explored how enterprises could leverage AI, and now we're wondering if there's any corner of the global market AI won't touch. We feel a deep sense of humility and gratitude to have a front-row seat to what’s clearly the most profound technological shift of our lifetime, as well as an imperative to ensure these technologies and teams meet their lofty expectations and deliver broad societal benefit.

To our founders and friends: thank you for continuing to accelerate and push the boundaries of what’s possible. The world will undoubtedly continue to move faster in 2026. As it does, we look forward to meeting that pace alongside you—not just as investors, but as long-term partners in your vision.

Sincerely,

John Somorjai

Paul Drews

Investing in
Innovation

Salesforce Ventures has invested in every major innovation cycle over 15+ years.

Our mission is to take a forward-thinking approach — seeking early exposure to the technology cycles we believe will shape the future of enterprise and industry. By identifying emerging trends, backing leading disruptors, and re-investing in top-performing companies, this strategy has proven both durable and financially rewarding.

Cloud infrastructure
Cloud infrastructure
security
Security
Apps
Apps
Data
Apps
Security
Cloud infrastructure
Apps
Cloud infrastructure
Data
Cloud infrastructure
AI
Cloud infrastructure
Cloud infrastructure
Cloud infrastructure

We started by partnering with creators of Vertical & Horizontal Apps to transform industries & processes, with generational names continually added over time...

We then expanded to focus on Cloud Infrastructure and companies that are transforming cloud computing for the enterprise.

We broadened our mandate to accommodate growing demand in enterprise Security.

And saw the opportunity to streamline Data Management.

Now we are all in on AI.

Select logos. To view our full portfolio, click here.
This report reflects our fiscal year ended 1/31/2026 and excludes Salesforce Corporate Investments, which are publicly reported under Strategic Investments alongside Salesforce Ventures in Salesforce’s filings.
AUM
StripeApps
ZoomApps
AutomatticCloud
Browser CompanyCloud
WizSecurity
ChainguardSecurity
dbt LabsData
LovableAI
Physical IntelligenceAI
Black Forest LabsAI
nCinoApps
VlocityApps
TwilioCloud
OwnCloud
Auth0Security
DrataSecurity
AirtableData
VercelData
Together AIAI
Fal AIAI
CertiniaApps
DocuSignApps
MuleSoftCloud
MongoDBCloud
1PasswordSecurity
SnykSecurity
SnowflakeData
DatabricksData
Mistral AIAI
ElevenLabsAI
AnthropicAI
RunwayAI
AS OF XXXX
$100M
INVESTED
2009
Select logos. To view our full portfolio, click here.
This report reflects our fiscal year ended 1/31/2026 and excludes Salesforce Corporate Investments, which are publicly reported under Strategic Investments alongside Salesforce Ventures in Salesforce’s filings.
StripeApps
ZoomApps
nCinoApps
VlocityApps
CertiniaApps
DocuSignApps
AutomatticCloud
Browser CompanyCloud
TwilioCloud
OwnCloud
MuleSoftCloud
MongoDBCloud
WizSecurity
ChainguardSecurity
Auth0Security
DrataSecurity
1PasswordSecurity
SnykSecurity
dbt LabsData
AirtableData
VercelData
SnowflakeData
DatabricksData
LovableAI
Physical IntelligenceAI
Black Forest LabsAI
Together AIAI
Fal AIAI
Mistral AIAI
ElevenLabsAI
AnthropicAI
RunwayAI
As of 2025, our $1B AI Fund is fully invested. We're now identifying the next wave of AI innovators.
As of 2025, our $1B AI Fund is fully invested. We're now identifying the next wave of AI innovators.

2025 Year In
Review

44 
New Investments

Select New Investments

Generative AI
Series B
Robotics
Series B
Defense
Series D
Energy
Series E
Security
Series D
Defense
Series C
Cloud Infrastructure
Series B
Cloud Infrastructure
Series C
30 
Follow-On Investments

Select Follow-On Investments

Generative AI
Series E, F, G
Cloud Infrastructure
Series F
Generative AI
Series E
Security
Series C
Vertical Apps
Series F
Generative AI
Series B
Defense
Series C
Generative AI
Series C
20
M&A Exits, Including...
Protect AI and Palo Alto Networks

Protect AI, an AI security company offering a range of open-source and managed solutions, was acquired by Palo Alto Networks to accelerate the company's commitment to securing the enterprise.

Initial Investment in Protect AI's Series A
SmartRecruiters and SAP

SmartRecruiters, a cloud-based recruitment platform to guide enterprises in talent sourcing, was acquired by SAP to propel the innovation of enterprise hiring needs.

Initial Investment in SmartRecruiters' Series B
The Browser Company and Atlassian

The Browser Company enables users to access and design browsers that meet the needs of the modern workforce, and was acquired by Atlassian to transform work in the AI age.

Initial Investment in The Browser Company's Series A
Wiz and Alphabet

Wiz, a cloud security platform that helps enterprises identify and manage risk across multi-cloud environments, has entered into a definitive agreement to be acquired by Alphabet to strengthen Google Cloud's security capabilities.

INITIAL INVESTMENT IN WIZ'S SERIES B

Post-Investment Support &
Portfolio Development

We provide unparalleled access to early product feedback, customer introductions, and connections with Fortune 500 decision-makers — including a deep connection with Salesforce — to help founders get to market faster and scale effectively.

Capital Invested
815
Commercial and Partner Introductions
M&A Exits
30
Portfolio Events

We offer our founders the opportunity to work with executives and technical leaders from Fortune 1000 companies and reputable private companies with a desire to remain at the forefront of digital transformation.

Select Customer Network Partners

Big Ideas

The underlying thematic work behind our investment theses.

Recognition
& Awards

  • Salesforce Ventures
    Why Founders Choose Salesforce Ventures: In Their Own Words
  • Forbes Stock
    Salesforce Ventures Deploys Over $850M of its $1B AI Fund to Back the AI Revolution
  • Growing Impact
    Growing the Impact of the Salesforce Ventures Platform Team
  • From Slack Fund to Salesforce Ventures
    From Slack Fund to Salesforce Ventures: How the Early Investing Team Found Its Niche

Memorable
Moments

  • Event Highlight
    Elevate 2025
  • “Having someone who is invested in you, who you can trust, and who can help you find mutual successes is great, and we got that from the beginning with Salesforce Ventures as they were helping us meet the right people at the right time.”
    – Neerav Kingsland, Head of Strategic Initiatives, Anthropic
  • Dreamforce
    Dreamforce
  • “Salesforce Ventures' deep, long-term relationships with key decision-makers at thousands of businesses worldwide is unmatched.”
    – Dan Lorenc, CEO, Chainguard
  • SVF Capital
    NYC Portfolio Dinner
  • “The portfolio team at Salesforce Ventures is exceptional. They're both very good and it's unique. At a Dreamforce dinner, I met three boards of directors and the CEO of a company in an active deal cycle with our company right now. That kind of convening, the access, the imprimatur, is genuinely needle-moving.”
    – Evan Smith, CEO, Altana
  • Tech Leaders Forum
    Tech Leaders Forum
  • “Amplification of our message, getting us in the room, getting us the audiences, giving us the ability to speak at the scale that Salesforce brings to the market — these have been amazing value-adds that helped us grow our brand and punch above our weight for where we are in terms of size and company lifecycle.”
    – Diego Lomanto, CMO, Writer
  • Elevate 2025
    Elevate 2025
  • “Salesforce Ventures is really unique in the value they bring to us in that they can really help to raise awareness of our solution on the global stage and help us become a thought leader in our emerging industry.”
    – Sonia Kastner, CEO, Pano AI
15 Years of Salesforce Ventures

Looking
Forward

The future is bright!

Salesforce Ventures is committed to the founders building the future of the enterprise.

We look forward to continuing to operate as one of the largest investors in the most consequential categories, providing operational rigor, financial focus, and an unwavering mission to bridge a startup's vision and the world's largest enterprise customer base.

About
Salesforce
Ventures

From seed through growth, Salesforce Ventures provides the most enterprising founders with the patient capital, coveted community, and unique access to the resources they need to build industry-defining companies. Since 2009, we’ve partnered with over 700 of the world’s most tenacious enterprise software companies, deployed over $6B in capital, and guided more than 200 portfolio companies to IPOs and acquisitions. Notable investments include: Anthropic, Box, Cohere, DocuSign, Fal, LiveKit, Lovable, Runway, Snowflake, Twilio, Vercel, Wiz, and Zoom. Salesforce Ventures leverages decades of expertise in the cloud and long-term relationships with key decision-makers at thousands of businesses around the world to give its portfolio companies an unfair advantage, help them build credibility, and accelerate growth.