What is Vlocity? Vlocity Review

Basic Introduction

Headquartered in Salesforce Tower in downtown San Francisco, Vlocity was founded in 2014 by CRM and cloud veteran David Schmaier, global product leader at Siebel Systems and creator of industry-specific CRM software. Vlocity is the first multi-vertical industry cloud company on Salesforce.

Platform Services

Vlocity provides solutions for industries with large profit margins, such as communications media, insurance, financial services, health care, energy, government and non-profit organizations. It has cultivated a group of loyal users including MetLife, Telefort, WellCare, British Gas, Cox Automotive, Rogers, T-Mobile, Sky, Telus, Farmers Insurance, Telia, Cigna, Allstate, Liberty Mutual and Claro.

The core of Vlocity's platform is its universal code: forty pre-configured scenario and status codes allow companies to configure their templated business forms through visual drag-and-drop tools. It also provides an industry console: through external data integration, extraction, optional O2O map conversion, batch transaction support and other systems, it provides up to dozens of data streams, displaying user history, service sales opportunities, single user flows and data reports.

Vlocity’s processors offer customized plans with different prices and rules. Vlocity’s mobile and wearable devices (for users of smartphones and Apple Watches) provide personal real-time editing tools. Finally, Vlocity provides clickstream analysis based on Salesforce Wave Analytics to help users increase upsell, improve customer satisfaction, and reduce average customer service time.

Financing

The company raised $42.8 million in its Series A round in the spring of 2015.

In September 2016, industry cloud startup Vlocity received $50 million in venture capital funding led by Salesforce Ventures and Sutter Hill Ventures.

In March 2019, Vlocity, a company that provides cloud solutions for Salesforce's customer relationship platform, announced that it had received $60 million in Series C financing, led by Sutter Hill Ventures and Salesforce Ventures. Bessemer Venture Partners participated in this round of financing as a new shareholder, and Accenture and New York Life made additional investments.

Acquisitions

In February 2020, Salesforce, an American cloud computing company, announced that it would acquire cloud service provider Vlocity, a cloud service and mobile software service provider, for $1.33 billion in cash. The definitive agreement has been signed and the transaction is expected to be completed in the second fiscal year of fiscal year 2021.

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