Zoom Video Communications has announced the creation of a $100 million Zoom apps fund to invest in startups that develop applications using its technology.
The Zoom Apps Fund will invest in developer partners with viable products and early market momentum, with investment decisions expected to be made on a monthly basis, according to the company.
Zoom Apps, integrations, its developer platform, and hardware will all benefit from the new global investment fund.
The company is most interested in seed to Series A companies that are committed to developing and investing in Zoom Apps, integrations, APIs, SDKs, and hardware.
“I founded Zoom nearly ten years ago, in 2011.” Zoom will not be what it is today without the help of early investors, according to Eric S. Yuan, CEO and founder of Zoom.
“Over the last year, I’ve found that we need to keep meetings productive and enjoyable.
As our platform grows, my dream is that the Zoom Apps Fund will help our consumers meet happier and collaborate even more seamlessly, while also assisting entrepreneurs in starting new businesses.”
Portfolio companies will obtain initial investments of between $250,000 and $2.5 million as part of the program to develop technologies that will become integral to how Zoom consumers meet, connect, and collaborate.