On Monday, Zoom Video Communications unveiled a $100 million venture fund expand offerings of apps and hardware products.
The fund will invest in developer partners with early market traction. Portfolio firms will receive investments of between $250,000 and $2.5 million to build solutions that for Zoom customers’ communication and collaboration purposes, as indicated by the company.
"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," Founder and Chief Executive Eric S. Yuan in a statement.