Eden Ventures and Salesforce.com announce the £1 Million Force.com Investment Challenge
Financing innovation not infrastructure, in the age of Platform-as-a-Service
Salesforce.com [NYSE: CRM], the market and technology leader in Software-as-a-Service and
Platform-as-a-Service, and Eden Ventures, the early stage venture capital firm specialising in
software and technology, today announced the £1 Million Force.com Investment Challenge – a venture
challenge for entrepreneurs and early stage companies building on the Force.com Platform.
Force.com delivers Platform-as-a-Service, enabling companies to develop and deliver any
application on demand.
The £1 Million Force.com Investment Challenge, the first of its kind in the UK, is designed
to inspire a new generation of independent software vendors (ISVs) to develop and deliver SaaS
applications on the Force.com Platform. The winner will have the opportunity to negotiate with Eden
Ventures for a potential investment of up to £1 million. Eden Ventures will announce the winner in
November at Dreamforce 2008, salesforce.com’s user and developer conference.
“New investment models are required to match the new technology and business models made
possible with Platform-as-a-Service and Software-as-a-Service,” said Marc Benioff, chairman and
CEO, salesforce.com. “Eden Ventures has a track record of success in identifying entrepreneurs and
startups that have the vision and leadership necessary for long term business success. That’s why
they are investing in companies based on the Force.com Platform.”
“SaaS and PaaS have transformed how entrepreneurs and established companies build, deliver
and deploy business applications,” said Mark Farmer, General Partner, Eden Ventures. “As a team of
successful entrepreneurs and experienced business managers we will apply our collective operational
expertise to assist the development of SaaS and PaaS companies. Eden Ventures will help this new
generation of entrepreneurs leverage Force.com to not only build innovative applications but also
build successful long term businesses.”
The £1 Million Force.com Investment Challenge
For the £1 Million Force.com Investment Challenge, salesforce.com will work closely with Eden
Ventures in an advisory capacity. As Eden reviews promising entrepreneurs and early stage companies
building on the Force.com platform, salesforce.com will assist in due diligence, provide design
review, packaging and distribution best practices, and go-to market programs for companies building
applications on the Force.com platform. Eden Ventures and salesforce.com will meet regularly to
review Force.com applications and companies that meet the criteria for the £1 Million Force.com
Eden Ventures will participate in a panel of judges evaluating the entries and selecting the
winning entrepreneur or startup. In addition to providing a financial investment, the selected
business will receive ongoing support from Eden’s team to grow their business. With Eden’s strong
seed and Series A investment track record, they have particular skill in identifying entrepreneurs
with the right balance of vision and leadership who can develop companies of lasting value.
Entrants in the £1 Million Force.com Investment Challenge will be judged along eight main criteria:
- A strong team with deep domain knowledge
- International vision and ambition
- Customer success and user adoption
- A significant market opportunity and likelihood of becoming market leader
- Adoption and innovative use of the Force.com Platform
- Financial plan
- Competitive differentiation
- Likelihood of long-term company success
For more information, contest rules, and to enter, please visit http://www.edenventures.co.uk/
Salesforce.com is the world’s largest provider of customer relationship management (CRM) software. For more information about salesforce.com (NYSE: CRM), visit: www.salesforce.com.
Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol “CRM.” For more information please visit http://salesforce.com/uk/, or call 0800 0921223 .