Salesforce has acquired SteelBrick for a $360 million price tag. The acquisitions are important to Salesforce’s strategic direction. After they acquired EdgeSpring and RelatelQ, Salesforce decided to get into the business intelligence market and reassess their small-business strategy. They also recently acquired ExactTarget and Pardot which gave them an introduction to the marketing automation business.
Earlier this year, SteelBrick announced an $18 million funding round. SteelBrick has just over 350 customers, and investors include Emergence Capital, Shasta Ventures, and Institutional Venture Partners. The company offers quote to cash software that offers tools to easily handle billing, orders, and payments.
“Being a part of Salesforce will give us an amazing opportunity to accelerate our delivery of fully integrated Quote-to-Cash applications right within Salesforce, helping thousands more customers grow revenue faster than ever before.” -SteelBrick CEO Godard Abel
SteelBrick’s quote to cash software gives them an easy way into the configure-price-quote market and the product integrates seamlessly with Salesforce. Before joining SteelBrick, CEO Godard Abel was chief executive of BigMachines, a provider of configure-price-quote software purchased by Oracle in 2013.
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