ServiceNow (NYSE: NOW), a Santa Clara, CA-based enterprise cloud company, has launched its corporate venture capital arm.
ServiceNow Ventures aims to invest in startups accelerating the transformation of enterprise work.
– Early‑stage companies that develop cloud‑based applications built on the ServiceNow platform.
– Growth‑stage vendors that create strategic technology integrations with ServiceNow and partner on go‑to‑market initiatives.
The firm’s portfolio includes Nuvolo, a ServiceNow independent software vendor (ISV) and developer of enterprise asset management applications for regulated industries such as pharmaceutical and healthcare; and MuleSoft, a software platform that enables global enterprises to create an application network that connects their existing systems, like ServiceNow, and third‑party solutions.
In conjunction with the launch of ServiceNow Ventures, the company is hosting the CreatorCon Challenge, in which startups compete to win their share of $500k in investments. Winners will receive an investment and awards from ServiceNow Ventures to speed their development and go‑to‑market efforts. First place will receive a $250k investment, second place a $150k investment, and third place a $100k investment.
The finalists will compete at the company’s annual CreatorCon developer conference May 7 to 12, 2017 in Orlando, Fla.