Salesforce Ups Generative AI Fund to $500M, Launches AI Cloud
Salesforce Ventures is doubling its commitment to generative AI startup investment to $500 million and expanded its portfolio just a few months after its initial debut. The new money for the Generative AI Fund arrives as Salesforce has introduced a new accelerator program for philanthropic groups interested in using generative AI and unveiled AI Cloud, a set of new enterprise generative AI tools including Einstein as a moderator.
Funding Generative AI Futures
The Generative AI Fund has already contributed to investments in several notable generative AI startups, including Anthropic, Cohere, Hearth.AI, and You.com. Joining the list of investments with the new funding pool are function automation developer Tribble and Humane, which is working on a screenless AI assistant for wearables.
“We are already seeing AI change the way the world works, and we’re excited to build on the momentum of our Generative AI Fund,” Salesforce Ventures managing partner Paul Drews said. “Expanding our Generative AI Fund enables us to work with even more entrepreneurs who are accelerating the development of transformative AI solutions for the enterprise, and we are excited to support the next generation of innovative founders.”
Salesforce’s investment in generative AI startups also includes a new startup accelerator program. The ‘Salesforce Accelerator – AI for Impact’ program aims specifically at more philanthropic organizations to offer money and expert help on using generative AI in their work. The accelerator plans to distribute $2 million to its first cohort and invite them to meet with advisors on how best to leverage generative AI.
“Generative AI presents a massive and exciting opportunity for purpose-driven organizations to better serve and meaningfully engage with their communities. In this time of rapid innovation, we need to ensure no one gets left behind,” Salesforce Foundation CEO and Salesforce senior vice president of philanthropy Becky Ferguson said. “This AI accelerator brings the full power of Salesforce with unrestricted grants, pro-bono expertise, and our technology to create a more equitable AI world.”
Einstein AI Cloud
Salesforce is also rolling out the AI Cloud, a collection of its own generative AI services for enterprise customers. The AI Cloud’s suite of tools supplements the company’s AI capabilities announced with the investment fund in March. The closest comparison to AI Cloud might be Bedrock, the Amazon Web Services solution, as AI Cloud serves as a host for models built by partners and investees, including AWS, as well as Anthropic, Cohere, and OpenAI. It also supports models built in-house by Salesforce for business automation and writing code. Businesses can also incorporate their own custom models into the platform.
One major addition to AI Cloud is a new moderation and control system called the Einstein Trust Layer. The AI monitors and works to maintain business and regulatory compliance rules by stopping the models from holding onto any private or sensitive information. The Einstein Trust Layer watches for when sensitive data might be sent by a user on an app and stops it from getting to the model, alerting the user that they might not want to submit that information. Einstein also watches for and filters out toxic and discriminatory language coming from both ends.
“AI is reshaping our world and transforming business in ways we never imagined, and every company needs to become AI-first,” Salesforce CEO Marc Benioff said. “AI Cloud, built on the #1 CRM, is the fastest and easiest way for our customers to unleash the incredible power of AI, with trust at the center driven by our new Einstein GPT Trust Layer. AI Cloud will unlock incredible innovation, productivity, and efficiency for every company.”
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