Increasing ServiceNow Ventures investment target, the company is broadening strategy to solve customer problems of the future.
ServiceNow is planning to deploy $1 billion in investment capital to ServiceNow Ventures by 2026. The company’s increased multi-year investment and strategy expansion is reflective of its ongoing commitment to grow and scale the next generation of enterprise technology companies and combined with the power of the ServiceNow Platform, can see over the horizon to solve future customer problems.
“Net-new innovation is the only way forward. With our multi-faceted investment strategy, ServiceNow Ventures is seeking out visionary founders and their game-changing ideas to bring greater value to the ServiceNow Platform, our broader ecosystem, and the industry as a whole,” said Philip Kirk, Senior Vice President – corporate business development, ServiceNow.
To date, ServiceNow Ventures has deployed approximately $300 million of this target capital investment across nearly 45 portfolio companies since its inception in 2015.
In the past year, the technology startup and venture capital ecosystem has witnessed exceptional volatility. Enterprise software is more mission critical than ever before, as companies look to drive innovation, efficiency, and productivity. To meet these customer needs, technology startups need both capital and operational guidance as they look to reach their full potential.
This differentiated investment strategy is a key driver of ServiceNow’s growth. As the company continues to innovate and expand its portfolio, the ServiceNow Platform and workflow products and solutions touch more market trends and disruptions than ever.
The expansion of ServiceNow Ventures will focus on three strategic areas:
- Investing in and nurturing emerging companies with innovative technologies that add value across ServiceNow’s platform, workflows, and end markets. Core investment areas include AI, ML, hyper automation, distributed cloud, total experience, and data intelligence.
- Expanding the ServiceNow ecosystem and accelerating growth with partners in key global markets.
- Scaling industry-leading software companies through differentiated, operator-led venture funds. These indirect fund investments enable ServiceNow to partner with investors who share the company’s operational-centric investment strategy.
