Splunk (Nasdaq: SPLK) has launched a venture arm to invest in startups that leverages data to improve business and bring about social change.
The company said Wednesday Splunk Ventures is composed of the $100M Innovation Fund and the $50M Social Impact Fund.
The Splunk Ventures Innovation Fund seeks to provide go-to-market support and technology access to companies that can generate business value from data, while the Splunk Ventures Social Fund aims to invest in startups seeking to make a positive impact on the society through the use of data.
Splunk Ventures made its initial investment in cloud-native application security firm Kavach through the Innovation Fund.
Pratik Roychowdhury, founder and CEO of Kavach, said the company is excited to collaborate with Splunk as it works to help enterprises counter cyber threats at the data layer.
