Zoom is investing $100m into its Apps Fund, a venture fund dedicated to growing its ecosystem of apps.
Zoom Apps – which was launched at the vendor’s Zoomtopia event last year – are applications that bring productivity and experiences directly into the Zoom platform.
The new global venture fund is intended to foster the growth of Zoom Apps, integrations, its developer platform and hardware. The initiative will see portfolio companies receive initial investments of between $250,000 and $2.5m to build solutions that will become central to how Zoom customers meet, communicate and collaborate.
The Zoom Apps Fund will invest in developer partners with viable products and early market traction and the vendor expects to make investment decisions on a monthly basis.
The fund is “stage agnostic” but is primarily focused on seed to Series A stages and requires a commitment to developing on and investing in Zoom Apps, integrations, APIs, SDKs and hardware.
“I founded Zoom in 2011, nearly ten years ago. Without the support of early investors, Zoom would not be what it is today,” said Eric S. Yuan, CEO and founder of Zoom.
“What I’ve learned over the past year is that we need to keep meetings productive and fun. My hope is that the Zoom Apps Fund will help our customers meet happier and collaborate even more seamlessly, and at the same time help entrepreneurs build new businesses as our platform evolves.”
