Benioff Funds AI Startup Amid 'Death of SaaS' Fears
Salesforce founder Marc Benioff has been vocal in dismissing concerns about artificial intelligence (AI) replacing software engineers. However, his own company's stock has been under pressure due to these fears.
Despite his public denial, Benioff led a $20 million pre-seed funding round for June AI, a startup founded by four former Salesforce executives that aims to automate the work of implementing enterprise software.
The company's platform auto-scans systems like Salesforce and generates AI agent workflows to automate manual tasks, solving the problem that 'AI paradoxically increases the demand for professional services.'
This is not the first time Benioff has invested in a venture that challenges his own company's market. In 2019, he bought Bonobo AI, which was co-founded by the same team behind June AI.