Price-to-quote app maker SteelBrick raises $18M from Salesforce, Shasta Ventures

With cloud and mobile-based programs for producing sales quotes and orders, SteelBrick currently serves nearly 200 companies, including Cloudera, Nimble Storage, Nutanix, and Marketo.

It's a big week for Salesforce Ventures, the venture capital arm of the CRM giant, with another major investment announced on Thursday.

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The innovation fund is a new backer for price-to-quote applications maker SteelBrick, which just closed an $18 million Series B round led by Shasta Ventures with participation from existing investor Emergence Capital.

That brings SteelBrick's fundraising pool to a grand total of $29.5 million raised over the last year. over the past twelve months. The Bay Area business plans to use the new funds to further scale its software development, sales, marketing and service and support teams.

With cloud and mobile-based programs for producing sales quotes and orders, SteelBrick currently serves nearly 200 companies, including Cloudera, Nimble Storage, Nutanix, and HootSuite.

The SteelBrick announcement marks the second major investment in one week for Salesforce Ventures. Also closing its Series B round on Monday, Apttus -- another configure, price, quote (CPQ) application developer running on the Salesforce platform -- generated $41 million in new funding.

Salesforce Ventures launched with a $100 million investment fund in September for businesses building new mobile apps and connected products tapping into the Salesforce1 platform.

Salesforce1 is the foundation for the San Francisco corporation's Internet of things (or "Internet of Customers," as repurposed by Salesforce) strategy, first unveiled at Dreamforce 2013.

The SteelBrick CPQ has been built and delivered natively via the Salesforce1 Platform, ensuring sales people can keep up with forecasts and close deals without ever actually leaving the Salesforce cloud.


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