Salesforce Ventures rains down $80M on Pleasanton cloud-based software company

The venture arm of Salesforce (NYSE: CRM) led an $80 million investment in ServiceMax, a Pleasanton-based maker of cloud software for managing company resources. The growth funding round was also led by Silver Lake, a private equity firm that owns a majority stake in ServiceMax. In a statement released by ServiceMax, the infusion of capital “is expected to fuel accelerated growth, deepen product development and support digital transformation and customer experience.” The funding by Salesforce Ventures falls in line with its mission to invest in enterprise software that builds upon the Salesforce platform, with investments to date in 365 companies, including  DocuSign and Zoom. Read More...