Vlocity Reaches $1 Billion Valuation After $60 Million Series C
Vlocity secures $60 million in Series C funding, pushing its valuation to $1 billion. The startup builds industry-specific CRM solutions on top of the Salesforce platform across five major verticals.
Vlocity raises $60 million in a Series C investment round that pushes the company to a $1 billion valuation. Sutter Hill Ventures and Salesforce Ventures lead the round, while Bessemer Venture Partners, Accenture, and New York Life also participate. This latest investment brings the startup's total raised capital to $163 million.
The company builds industry-specific CRM solutions directly on top of the Salesforce platform. It targets five key verticals, including communications, insurance, health, energy, and government. Co-founder and CEO David Schmaier compares the strategy to building five versions of Veeva simultaneously to capture a market ten times larger than a single industry.
Vlocity currently generates $100 million in annual revenue and expects to double that figure by the end of the year. The company exemplifies the broader Salesforce ecosystem strategy, where the core platform remains flexible enough for partners to build tailored industry solutions. This approach allows Salesforce to scale efficiently without building separate products for every single market.