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Zoom reveals the first 12 companies to invest under the $100M Zoom Apps Fund, four months after its launch. The companies would receive anything between $250000 to $2.5 million in equity funding, reports indicate
Four months after it launched its $100 million Zoom Apps Fund, Zoom Video Communications announced its twelve companies in the first roster to invest in, reports state.
The Zoom Apps Fund was a part of Zoom’s mission to transform from an application into a platform after it announced Zoom Apps Development tools and the Zoom Apps marketplace last year. The Fund aims to make strategic investments in growth-stage startups.
In an interview with TechCrunch, Ross Mayfield, product lead for Zoom Apps and Integrations, stated that it is necessary to focus on the seed stage and A stage of partnering with entrepreneurs to create great things on the Zoom platform.
“I think what you see in the first batch of more than a dozen investments is representative of something that’s going to be a significant ongoing undertaking,”Ross Mayfield
It is reported that companies must apply for the funding with a market-ready product having some traction built for Zoom to qualify. The companies would receive anything between $250000 to $2.5 million in equity funding. The companies revealed in the first roster to receive investments include,
- BrightHire: An “interview intelligence” platform helping businesses run real-time interviews online
- Docket: A meeting productivity platform helping organizers prioritize topics and set time limits.
- Fathom: An AI-powered note-taking app with support for automatically recording, transcribing, and highlighting key moments.
- Hive: A project management and collaboration platform supporting Gantt, Kanban, table, and calendar view.
- Polly: A team engagement app using fun interactive questions, live Q&A to solicit instant feedback.
- Spinach: Spinach, still in private beta, aspires to reimagine remote meetings and workflows, focusing on running better daily standups.
- Warmly: AI-powered business cards that allow meeting participants to share information about themselves and reveal mutual connections instantly.
- WorkPatterns: For collaborating on meeting agendas, documenting decisions, exchanging feedback, and more.
- Pledge: Designed to help fundraising via virtual events on Zoom.
- Canvas: A diversity recruitment platform (DRP) to encourage a more diverse workforce.
- Quicksave Interactive: A Finnish studio that develops HTML5 games, such as Werewolf with Friends.
- Bright: A live video chat platform for remote learning.