The San Francisco startup customizes Salesforce's service for companies in five industries, including telecommunications and health care.
With Salesforce's cloud-based service supplanting traditional CRM software, Schmaier was convinced there was an opportunity to repeat what he'd done decades before. In 2007, some of his former colleagues had formed That's a big advantage for Vlocity and its customers, said Rebecca Wettemann, an analyst at Nucleus Research who covers the CRM market.
"Salesforce by itself without industry templates will cost the companies too much on customization, implementation will be too long and the total cost of ownership will not be competitive," Huang said.While Vlocity isn't exactly a household name, it's already caught the attention of investors. The company has raised more than $160 million in venture funding to date.
When considering potential investments, Wildcat Venture Partners evaluates them on four key criteria, or pillars — their product, revenue, business systems, and executive team, said founding partner Bruce Cleveland. Schmaier put together a team that's not only has deep experience in the industry but also with fast-paced growth, Cleveland said.
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