Splunk announced the launch of Splunk Ventures and two inaugural funds — $100 million Innovation Fund and $50 million Social Impact Fund – for making investing in early stage companies.
The $100 million Splunk Ventures Innovation Fund invests in startups working to transform data into business value. Splunk Ventures provides portfolio companies with go-to-market support, access to Splunk technology and engagement with Splunk leaders.
The $50 million Splunk Ventures Social Impact Fund invests in organizations using data for the good of society.
“Organizations around the world are not only racing to make faster, better decisions, they’re also hoping to turn data into business outcomes that are both cost and time effective,” said Doug Merritt, president and CEO, Splunk.
Splunk announced its first Splunk Ventures Innovation Fund investment in Kavach, a cloud-native application security company. Pratik Roychowdhury is the founder and CEO of Kavach.