Zoom Announced 1st Startups to Receive $100 Million Funding from their Investment Fund

Video chat App Zoom is on a mission to lend a helping hand to a number of startups in the tech space. This is part of the company strategy to transform from application to a platform. 

The company is giving away $100 million development fund to startups businesses who can build tools and solutions on top of their platform. 

Some of startups companies who received funding are DE&I and PeopleOps, both firms play in gaming and entertainment space. Another startup that receive funding is a Fathom, which alleviates the need to take notes during a meeting, but it’s more than recording and transcription.

The company’s product lead for Zoom Apps and integrations Ross Mayfield said about the seed around, “We’re in the process of creating this ecosystem. We felt it important, particularly to focus on the seed stage and A stage of partnering with entrepreneurs to create great things on this platform. And 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”. 

“The art of being an entrepreneur is working with that risk in the absence of resources and pushing at the frontier of what you know.” Zoom is trying to be a role model, a mentor and an investor on that journey.

Zoom is also working with other investment partners, rather than leading the rounds, but that doesn’t mean they aren’t working with these startups using internal resources for advice and executive backing, beyond the money.

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