Slack, a communications application company, just launched an $80-million venture fund to make early-stage investments in startups building tools that integrate with its workplace messaging platform. The $80 million dollar fund is backed by Slack and six other investors: Accel, Andreessen-Horowitz, Index Ventures, KPCB, Spark and Social Capital.
For developers or small companies deciding whether to use the Slack platform, the Slack Fund is a new source of support to help them 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, according to the company.
Slack said it will 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 they see in the Slack ecosystem.