Monday, October 1, 2007

Salesforce.com Partners With VCs For SaaS Investments

San Francisco-based Salesforce.com and two venture capitalists, Bay Partners and Bessemer Venture Partners, said today that they are launching a new funding program for companies building application on Salesforce.com's Force.com platform. The new program will invest approximately $25M over the next 3 years in companies who are using Force.com to create software-as-a-service. The firms said they will put in at least $500,000 in each investment. Force.com is Salesfroce.com's platform for building software-as-a-service applications. Neil Sadaranganey and Salil Deshpande from Bay Partners will lead the program along with Byron Deeter and Philippe Botteri from Bessemer.