Zoom today announced the launch of its $100 million Zoom Apps Fund to support promising developers using the Zoom toolset and to stimulate growth of its ecosystem of Zoom Apps, integrations, and hardware.
The company said it plans to invest between $250,000 and $2.5 million in each portfolio startup.
“We’re looking for companies with a viable product and early market traction, and a commitment to developing on and investing in the Zoom ecosystem.” Colin Born, Head of Corporate Development, said in the announcement post.
Zoom launched Zoom Apps, aka Zapps, apps that people can use within the Zoom platform, back in October. As well as allowing users to access multiple apps in a Zoom meeting, share a document quickly instead of scrambling to find it, and leverage Zapps before, during, and after your meeting to increase productivity, Zoom Apps has also enabled third-party developers to create and distribute apps that “enrich the Zoom experience”. With Zoom Apps Fund, startup founders will have another opportunity to get some funding.
“Ten years ago, Zoom was a startup. We wouldn’t be where we are today without the support of our early investors.
Now, we’re funding innovative companies that are inspired to build the next big thing in the Zoom platform ecosystem. If you’re developing apps and integrations to make communications more engaging, productive, effective, and even fun, we’d love to hear from you.” the company said.