Wednesday, 21 April 2021 01:45

Zoom announces $100 million Zoom Apps Fund to invest “in its apps and portfolio companies”

By Kenn Anthony Mendoza

Zoom has launched a US$100 million venture fund to stimulate innovation within the company to cater to the demands of its customers.

Zoom Video Communications has announced it has created the Zoom Apps Fund, a new $100 million venture fund created to stimulate growth of its apps, integrations, developer platform, and hardware.

The video conference giant says its portfolio companies will receive initial investments between “$250,000 and $2.5 million to build solutions that will become core to how its customers meet, communicate, and collaborate.”

According to Zoom, Zoom Apps, announced at Zoomtopia 2020, “are leading applications that will bring productivity and engaging experiences directly into the Zoom platform.”

Zoom is currently developing its apps, which, it says, “are an important component in building the future of video communications.” The Zoom Apps Fund will invest in developer partners “to provide valuable and engaging experiences to our customers.”

“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, Zoom Founder and CEO.

“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 be more productive, and at the same time help entrepreneurs build new businesses as our platform evolves.”

To learn more about the Zoom Apps Fund visit zoom.com/fund and read the company's blog post here.


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