Australia-headquartered workplace collaboration software firm Atlassian has announced the launch of a $50-million venture fund that will support early-stage and established developers in its cloud ecosystem.
The fund – Atlassian Ventures – will support companies that are developing cloud-based products and services, including early-stage startups that are building apps for any of Atlassian’s cloud products, such as Jira, Confluence, Bitbucket, or Trello.
“We are focused on ensuring these teams have an opportunity to access funding, and hope to include both existing developers and those that are brand new to the Atlassian ecosystem in this category,” Chris Hecht, head of corporate development at Atlassian, said in the announcement.
The fund will also back larger companies in its ecosystem that are scaling their businesses. The investments, which Hecht said will be similar to its investments in Zoom, Slack, and Split.io, will be made in partnership with traditional venture capital firms.
The third type of companies that the new fund seeks to support are those in the Atlassian Partner Program that are looking to boost their cloud services or create new products focused on the future of work.
“As more and more customers transition to our cloud products, we are committed to supporting their journey by fostering a robust ecosystem of cloud-based apps that enhance their experience and satisfy all use cases,” Hecht said.
Currently, there are more than 4200 app developers building products to run on top of Atlassian software, such as Trello and Jira. Some of these apps are already integrated into popular tools like Slack, Zendesk, and GitHub.
“Atlassian Ventures will facilitate our continued investment in the best-of-breed tools and integrations our customers need to fuel the next wave of innovation and manage their work, both now and into the future,” Hecht added.
Atlassian was founded in 2002 to make software products for businesses to collaborate, communicate, and manage their operations more effectively. It listed on the Nasdaq in 2015.
In May, it entered a deal to acquire Slack-application creator Halp. Halp’s main product is an application that runs on team-communication platform Slack, allowing the creation of “tickets” to track workflow progress.