Salesforce.com's Internet of Things innovation fund is off and running with a substantial investment marking one of the largest in the company's history to date.
Apttus, a Bay Area-based contract management software provider, wrapped up its Series B round with $41 million in fresh cash.
Marking the first investment for Salesforce Ventures, other investors included K1 Capital and Iconiq, each of whom also participated in Apttus' Series A $37 million funding round in September 2013.
Salesforce Ventures, the venture capital arm of the CRM giant, launched 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 Salesforce's Internet of things (or "Internet of Customers," as repurposed by Salesforce) strategy, first unveiled at Dreamforce 2013.
Apttus already has a solid foundation with Salesforce since launching in 2006, building out its own services on the Salesforce platform even before Force.com debuted.
Apttus has also grown to be a top-tier sponsor at Salesforce's annual Dreamforce customer expo.
Along with Salesforce itself, Apttus serves over 300 of Salesforce's enterprise customers, including 70 Fortune 500 companies.