APX makes software for wearables used at work and Salesforce has made investment through its venture capital arm, SalesForce Ventures.
According to a Washington Business Journal report, “APX Labs has raised another $10 million in venture capital, a round that includes new investors SalesForce Ventures and SineWave Ventures”. However, it is still not clear how much each company has invested.
APX Labs’ wearable tech software is mostly used in heavy industries like energy, telecommunications, automotive and aerospace. The app is believed to improve the entire workflow of the companies with its various features like, contract approval and sending email with just a tap.
Salesforce has always encouraged wearable devices. So by investing in APX Labs, the company is trying to strengthen its position in the wearable tech software space.
Over the past few years, Salesforce made several investments in startup businesses either through acquisitions or partnership arrangements. The most recent one was the buyout of smart calendar app, Tempo, from Tempo AI.
Salesforce will use Tempo’s technology or its engineering talent to develop new products or improvise on the existing ones.