United States (US)-based team communication app Slack has launched a US$80 million fund to support developers building apps that interact with its product.
The Slack Fund is backed by six of the company’s investors – Accel, Andreessen-Horowitz, Index Ventures, KPCB, Spark and Social Capital – and is open to entrepreneurs and developers across the world, including in Africa.
“If you’re a developer or small company deciding whether to make a bet on the Slack platform, the Slack Fund is a new source of support to help you get started building apps. The Slack Fund will fund both “Slack-first” apps as well as B2B and enterprise tools that make Slack integrations a core part of their offering,” Slack said.
The company said it expected its portfolio will feature a diverse array of entrepreneurs working on solving problems for teams in every industry, function, and corner of the world.
“We’ll measure the success of the Slack Fund in the quality and adoption of the apps built by Slack Fund companies and by the overall investment we see in the Slack ecosystem,” Slack said.