The US-based cloud computing company, Salesforce, has launched a Europe Trailblazer Fund through its Salesforce Ventures unit.
The US$125mn fund will be used to finance enterprise cloud startups to focus on innovation and drive customer success.
Salesforce Ventures has already invested in over 50 startups across 13 countries in Europe.
“Europe is a clear leader in cloud technology today, and we are excited to deepen our investment in the region,” commented John Somorjai, Executive Vice President of Corporate Development and Salesforce Ventures.
“Our commitment to European startups reflects the growth of innovation, our belief in the local entrepreneurs and our focus on creating the world's largest ecosystem of enterprise cloud companies to drive customer success.”
The public cloud services market in the EMEA region is set to more than double between 2018 and 2023, with the market to be worth more than $105.3bn in four years, according to IDC.
"We see tremendous opportunity to invest in companies across Europe as this market continues to grow at scale,” stated Miguel Milano, President of International at Salesforce.
“At Salesforce, we focus on backing ambitious entrepreneurs who are building the most innovative solutions to support our customers’ digital transformation.”