Zoom launches a $100 million Zoom Apps Fund to invest in tech startup companies that build apps using its technology
Popular video conferencing company Zoom Communications announced today the official launch of a $100 million Zoom Apps Fund to invest in Zoom developer partners to help its “customers meet happier and collaborate even more seamlessly.”
According to the announcement, the Zoom Apps Fund is a $100 million global venture fund to stimulate the growth of our ecosystem of Zoom Apps, integrations, and hardware. Tech startups and portfolio companies will receive an initial investment of $250,000 to $2.5 million to build solutions that will become core to how our customers meet, communicate, and collaborate.
In a blog post on Monday, Zoom wrote:
“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.”
Zoom is looking for companies creating products that are a solid fit for our Zoom ecosystem and provide value to our customers. Zoom added that the potential Companies should have a viable product and early market traction to be considered. Below is a list of additional requirements.
Growth stage: We are stage agnostic but primarily focused on seed to Series A stages
Investment: Initial funding will range between $250,000 and $2.5 million
Requirements: Commitment to developing on and investing in the Zoom ecosystem (including Zoom Apps, integrations, APIs, SDKs, and hardware)
If you or your startup is interested in the program, you can apply by filling out the application on the Zoom Apps Fund page.
Zoom was founded in 2011 by Eric Yuan. Just like all immigrants looking for a better life, Yuan immigrated to the United States from China in the mid-90s because of the Internet. His visa application was denied 8 times before he came to the U.S.