Zoom introduces $100 Million Zoom Apps Fund

Zoom, a California-based cloud communications platform provider, announced a $100 Million Zoom venture fund.

The venture fund which has been named, Zoom Apps Fund, has been created to stimulate the growth of Zoom’s ecosystem of Zoom Apps, hardware, integrations, and developer platform.

Eric S. Yuan, Founder, and CEO of Zoom said, "I founded Zoom in 2011, nearly ten years ago. Without the support of early investors, Zoom would not be what it is today. 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 meet happier and collaborate even more seamlessly, and at the same time help entrepreneurs build new businesses as our platform evolves."

The funds will be leveraged to invest in developer partners with viable products and early market traction that will provide valuable and engaging experiences to its customers.

Portfolio companies will receive initial investments between $25000 and $2.5 million to build solutions that will become core to how customers meet, collaborate, and communicate.

Zoom Apps announced at the event of Zoomtopia 2020, are leading applications that will bring productivity and engaging customer experiences directly into the company’s communication platform, notes the announcement.