Our 2025 Year in Review is live π
β 44 new investments
β 30 follow-on investments
β 20+ M&A exits
β $1B AI Fund fully deployed
β New focus areas in robotics, defense, & energy
Explore our full Year in Review: https://t.co/xHtEk7NGqX
πΈ Yesterday our team swapped the office for Centre Court.
It was a privilege to be able to take a select group of portfolio leaders and members of the SFV network to Wimbledon for a day of world-class tennis and world-class company π€
Thank you to everyone who joined us π
5οΈβ£ lessons on company-building from two-time founder and current @upwindsecurity CEO Amiram Shachar:
π Your best ideas come from problems you've personally lived through.
π In a world where anyone can build, staying close to customers is key.
π A platform only works if there's a reason for everything to connect.
π The smartest time to raise money is when you don't need it.
π 80% of your day as a founder will be bad β and that's a good thing.
Amiram didn't set out to build a security company. He was a DevOps engineer who saw firsthand how security tools fail the people doing the work β and built Upwind to fix it.
π Our own @nkkall and @KartikeyaG9 sat down with Amiram to talk about conviction, customer feedback, and why the hardest days are the ones that matter most: https://t.co/7S6QpzoEB8
Weβve raised $320M at an $11B valuation, led by Addition.
AI is changing how companies are built. Teams are smaller, global from day one, and using agents more. Weβve spent 10 years building the financial rails for that world.
Weβre now building the intelligent layer on top.
"Lovable has built a culture that's very much talent-dense and focused on shipping quickly and doing a lot of things for customers, but at the same time keeping it low-ego and having a bit of fun at work."
Andy Toung, CFO of @Lovable, on why he decided to join the company and what makes the team special πΉ
Salesforce Ventures is proud to invest in @kotoba_tech π
Voice is becoming the primary interface of AI. And for hundreds of millions of Japanese, Korean, and Chinese speakers, the gap between what global platforms offer and what they need has never been wider.
Kotoba is built to close that gap. Their model, Koto, delivers real-time speech translation and voice interfaces for East Asian languages β at broadcast-quality accuracy, running on-device, and built to slot into the agentic systems that are reshaping how people interact with software.
Founders Noriyuki Kojima and Jungo Kasai are two of Japan's most decorated NLP researchers β both Best Paper Award winners, both Masason Foundation Fellows. Proud to back them and the entire Kotoba team π€
π On our blog, Ken Asada and Sho Yamanaka, CPA shared more about our investment in Kotoba: https://t.co/aHAnASHs5h
"This is a game-changing time in the world with AI. Being able to bring that power to folks who historically haven't been able to tap into the ability to create software, is something that I think is really deep and very much a motivating force for all the folks at Lovable."
@Andy Toung, CFO of Salesforce Ventures portfolio company @Lovable, discusses the company's mission and how Lovable is making software creation accessible for everyone πΉ
Salesforce Ventures is proud to invest in Upscale AI π
The bottleneck for AI acceleration is no longer just compute β it's the fabric that connects it. As every major hyperscaler designs its own accelerator, the networking layer that stitches thousands of chips into a single machine has become the next great frontier in AI infrastructure.
Upscale AI is building exactly that: a purpose-built scale-up switching ASIC with native support for multiple open protocols, designed for the heterogeneous, open AI infrastructure stack that's replacing the old bundled model.
The AI networking market is on track to potentially exceed $200B by 2030. Founders Barun Kar and Rajiv K. are among the most accomplished operators in networking silicon history β and we couldn't be more excited to back them.
π On our blog, @emilyyzhao and @nateho_ wrote more about our investment in Upscale AI: https://t.co/9OT6nHakfQ
"I used to say chase two rabbits, catch none ... but now if you move fast enough, you can chase all the rabbits."
Andy Toung, CFO of @Lovable, talks to @nkkall about how AI has enabled the Lovable team to widen their focus while still moving at an incredible pace π
"I think one of the most dangerous things you can do at a startup isn't necessarily to make the wrong decisions, it might be to make too many of the right decisions all at once."
After investing in @Lovable's Series B, CFO Andy Toung sat down with our own @nkkall to discuss why he took the role and the company's ambitions. As CFO, Andy says his role is to have a sense of "focused urgency" and say "no, but" or "yes, and" with an eye toward the bigger picture to ensure the company is headed in the right direction.
π Watch our full interview with Andy on Youtube: https://t.co/wBhE97VFGA
What can studying an AI 'mind' teach us about our own human brains?
"Once we can understand an AI mind, we hope that this teaches about our own minds, our own consciousness, our own understanding of reality and the world," says Eric Ho, CEO of @GoodfireAI.
Eric describes interpretability research as "neuroscience" for AI. If we can understand the mind of an AI model, we may learn how to design safer systems while also learning about how our own minds function.
π Full interview with Eric and Emily Zhao here: https://t.co/gxY8wVmKUe
"We were looking for people who really get and see the journey that we're on. I think it's really important that our investors deeply share our vision of the future so that it feels like one team rowing in the same direction."
Eric Ho, CEO of @GoodfireAI, explains why he partnered with @emilyyzhao and the Salesforce Ventures team π€
Salesforce Ventures is proud to lead the Series B of @algo_artis π
Some of the world's most consequential operational decisions β at power plants, petrochemical facilities, logistics networks β are still being made manually, with spreadsheets and legacy tools. ALGO ARTIS is changing that.
Their AI-driven planning platform, OPTIUM, handles the combinatorial complexity that overwhelms conventional tools, while keeping human operators in the driver's seat. ALGO ARTIS is already trusted by major Japanese enterprises like Kansai Electric Power, Cosmo Oil, and Nippon Paper β and built to scale globally.
We're excited to partner with founder Kentaro Nagata and the ALGO ARTIS team. We wrote more about our investment on our blog: https://t.co/4xRl28yR5f
If we canβt read, edit, or debug AI models, we canβt shape them safely enough for the systems theyβre becoming a part of.
As @GoodfireAI CEO Eric Ho explains, AI models today are vastly different from traditional software. We can write software, inspect it, change it, and debug it. With LLMs, much of the behavior is hidden inside the weights of a neural network.
Goodfire is building the science and technology to change that. Their work is focused on understanding the foundations of neural networks so models can be intentionally designed, not just trained and tested from the outside.
Thatβs important for safety, but also for progress. As models become more capable, they have the potential to develop insights that humans cannot easily access on their own.
The opportunity is to look inside those systems, understand what they have learned, and translate that knowledge back into something humanity can use.
Salesforce Ventures is proud to invest in @supabase: the new backend for the AI era π
Building a modern backend has always been more painful than it should be: stitching together a database from one vendor, auth from another, storage from a third, and glue code to hold it all together.
Supabase eliminates that complexity. One open-source platform. Complete Postgres backend with auth, storage, realtime, and edge functions β wired together from day one.
The numbers speak for themselves: 7 million developers have signed up, 55% of the latest @ycombinator batch builds on Supabase as well as leading enterprises like Figma, Vercel, and Bolt. Further, AI coding tools like Claude Code, Cursor, and Lovable are making Supabase one of the most common backends in a generation of new applications and creating a compounding distribution advantage that goes well beyond managed Postgres.
Proud to back @kiwicopple, @AntWilson, and the entire Supabase team as they build the foundational infrastructure layer for how software gets built in the AI era π
π On our blog, @pdrews, @emilyyzhao , @KartikeyaG9, and Pascha Hao shared more about our investment in Supabase: https://t.co/BrkeHcHrvu
"I would like to live in a world where we actually deeply understand the AI models that we're deploying everywhere across society."
@GoodfireAI CEO Eric Ho on how even researchers at frontier labs can't fully explain how their models work, or why they become intelligent.
"Never before has there been this wide of a gap between our understanding of a technology and how widely it's being deployed. Our entire mission as a company is to change that."
More than half of the Goodfire team is focused on interpretability research βreverse engineering the weights and parameters of neural networks to better understand their algorithms, computations, and features. Goodfire's aim is to look "inside" a model and attach meaning to the units of computation within it. This way, they can help design better models, build safer systems, and create more effective guardrails during training and deployment.
π₯ Watch Eric in conversation with @emilyyzhao on how Goodfire works to understand AI models.
The idea that launched @GoodfireAIπ₯
When ChatGPT launched, most people were blinded by the possibilities. Eric Ho saw the risk it posed.
"I kind of saw the next few years unfold before me, where we were about to get increasingly powerful models ... massive amounts of compute, massive amounts of intelligence, but we wouldn't understand at all how this intelligence would actually work."
Most models operate as a black box. Users can see the output, but they can't reliably see how the model reached it, why it behaved in a certain way, or whether it will behave the same way again next time. With how quickly AI is being deployed into mission-critical environments, Eric wanted to do something to ensure AI models are functioning as intended.
In a new video interview with Emily Zhao, Eric explained his aim behind founding Goodfire: to build the science and technology needed to understand AI from the inside out.
We're proud to invest in @genx_corp π€
Japan's enterprise AI market is enormous β and untapped. GenerativeX deploys custom AI agents for Japan's largest enterprises in days, not months.
Fast AI adoption at scale is possible. GenerativeX is proving it.
https://t.co/2vs3EujEA8