Salesforce ventures has invested an undisclosed amount in North Carolina-based nCino, a banking SaaS firm. The recent financing will fund an a team who will work to expand the company’s product suite which is also built on Salesforce.
nCino declined to disclose exactly how much more cash it collected from Salesforce Ventures, the cloud-focused strategic investment firm of Salesforce—the $43 billion customer service cloud company ubiquitous in the sales and marketing world. The latest announcement aside, to date nCino has raise about $53 million, CEO Pierre Naudé told FORBES last month. One connection that may have drawn Salesforce’s attention to the young company (nCino was founded in early 2012) is the fact that nCino’s bank operating system was built on the Salesforce platform. “nCino has been a proud partner with Salesforce since our inception,” said Naudé.