Atlassian unveils $50 mn investment fund targeting startups

Atlassian, a provider of team collaboration and productivity software, has launched Atlassian Ventures, a new $50 million investment fund targeting technology startups.
Atlassian SummitAtlassian Ventures, with the aim of supporting cloud-based products and services, will invest in three types of companies.

Firstly, the early-stage startups, who are building apps for any of Atlassian’s cloud products.

Secondly, the larger, more established ecosystem product partners scaling their businesses. These investments will be made in partnership with institutional investors and will generally target series A onwards.

Finally, the existing sales channel partners looking to step up their cloud services and create new products that support the future of teamwork.

“India is a significant market for Atlassian, one that’s teeming with an extraordinary developer community and a vibrant startup ecosystem that we plan to tap into,” Dinesh Ajmera, site lead and head of Engineering, Bengaluru, Atlassian said.

Atlassian has 4,200+ apps already available in its Marketplace and offers integrations with popular tools like Slack, Zendesk, and GitHub.

The company has recently acquired a slew of companies in the ecosystem, which include Code Barrel (the company behind Automation for Jira), Mindville and Halp – the creator of Slack.

Atlassian serves more than 174,000 customers including General Motors, Walmart Labs, Bank of America Merrill Lynch, Lyft, Verizon, Spotify and NASA.