Wednesday, September 28, 2016
ServiceNow Launches Its Own Venture Investment Arm, ServiceNow Ventures
ServiceNow, the developer of service management software led by Frank Slootman--and which started in San Diego--has launched its own venture capital arm, ServiceNow Ventures. According to ServiceNow, which is based in Santa Clara but still has major operations in San Diego, ServiceNow Ventures will target investments in early stage companies that develop cloud-based applications, built on its platform, as well as growth stage vendors developing strategic technology integration with the ServiceNow platform. ServiceNow did not say how much it is dedicating to investments. As part of the launch of the new venture investment arm, ServiceNow said it will host the CreatorCon Challenge, which will award $500,000 in investments to startups. ServiceNow Ventures said its portfolio so far includes two, prior investments by ServiceNow: Novulo and MuleSoft.