Source: venturebeat.com | Re-Post Boomerang 5/2/19
Some of the biggest Heartland success stories in recent years, from Utah’s Qualtrics to Indiana’s ExactTarget, have been enterprise software companies. Middle America has a high concentration of Fortune 5000 companies, giving these startups crucial proximity to necessary customers while being able to keep costs low by operating in a cheaper part of the country.
So it shouldn’t come as a surprise that Salesforce Ventures, the investing arm of the cloud-based software giant, is now investing more outside of Silicon Valley than inside it. Managing partner Matt Garratt told VentureBeat that of the 53 investments Salesforce Ventures made in U.S.-based startups last year, 65 percent were outside of Silicon Valley. Recent investments include North Carolina’s Ncino, which sells cloud-based banking technology, Tennessee-based health care tech company Virsys12, and Denver’s Guild Education, which has created an educational platform for companies to help their employees skill up.