Zoom launches $100 million Zoom Apps Fund for developers

The company is looking to make an initial investment of $250,000 to $2.5 million in each portfolio company

e4m by exchange4media Staff
Updated: Apr 21, 2021 1:13 PM
zoom

American communications technology company Zoom Video Communications has launched a $100 million Zoom Apps Fund to invest in apps that are using its technology. The company is looking to make an initial investment of $250,000 to $2.5 million in each portfolio company.

"We’re excited to announce the launch of our $100 million Zoom Apps Fund, which will invest in portfolio companies looking to revolutionize the way Zoom customers meet, collaborate, and communicate on our rapidly expanding platform," Zoom Head of Corporate Development Colin Born said in an official blog post.

Born said that the ecosystem of Zoom Apps, integrations, video and client SDKs, and hardware play a role in creating frictionless, engaging, collaborative, and even fun Zoom experiences. "We’re committed to fostering growth across our ecosystem and supporting our developer community to bring the best and most innovative ideas to life for our customers."

There are dozens of companies working on Zoom Apps integrations. "As we see the first batch of Zoom Apps demos and betas, it’s clear to us how powerful this engagement model will be. It has also become clear that there is a massive opportunity right now for innovation with the potential to reach and impact millions of customers in a brand new way. That’s the inspiration behind the Zoom Apps Fund," Born said.

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