Software Giant Atlassian Launches US$50M Fund To Invest In Its Ecosystem

Atlassian Venture will invest between US$250,000 and $6 million in exchange for equity

 

Sydney, Australia-based tech company Atlassian, which provides team collaboration and development softwares, announced the launch of Atlassian Ventures, a US$50 million fund aimed at strengthening its global developer ecosystem, Atlassian Corporate Development Head Chris Hecht announced in a blog post on Wednesday.

 

Atlassian Ventures aims to invest in three main types of companies, the blog post noted.

  1. Early-stage investment startups building apps for Atlassian’s cloud products including Jira, Confluence, Bitbucket, and Trello;
  1. Established ecosystem partners looking to scale their business, similar to Atlassian’s investment in Zoom, Slack, InVision,  process.st, and Split.io; and
  1. Members of the Atlassian Partner Program looking to expand their cloud services or create new products to facilitate workplace collaboration.

In addition to the financing, entrepreneurs will also receive mentorship from Atlassian’s executive team, and global exposure at Atlassian events, Hecht noted.

 

Atlassian Venture’s non-negotiable standard investment terms include an investment of $250,000 convertible note with a cap of $6 million, and a valuation discount rate of 20%, according to its website. The fund is currently accepting startup applications on a rolling basis, the website adds.

 

The blog post added that Atlassian Ventures has also recently funded two early-stage startups  Hipporello and Meetical, the first startups to receive funding from the new fund.

 

For large, established ecosystem partners, Atlassian Ventures will make investments in partnership with traditional venture capital firms, the blog post noted.

 

The developer ecosystem plays a crucial role in Atlassian’s success. With developers building on top of Atlassian’s products, the company focuses heavily on developing its cloud-based solutions, the new fund’s website notes.

 

“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 wrote.

 

Atlassian already has over 4,200 apps available on its Marketplace and offers integrations with popular tools like Slack, Zendesk, and GitHub, the blog post noted.

 

“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 has carried out a string of acquisitions over the last 12 months. The company acquired Code-barrel, the startup behind Automation for Jira, in October last year, followed by conversational ticketing and help desk startup Halp in May this year, and lastly, Sweden-based Mindville, an asset and configuration management company in July.

 

Header image by Nattanan Kanchanaprat from Pixabay

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email
Monika Ghosh
Monika Ghosh is a Staff Writer at Jumpstart

RELATED POSTS

Why Crypto Markets Crash and 5 Ways Investors Can Deal

Why Crypto Markets Crash and 5 Ways Investors Can Deal

With more and more people holding cryptocurrencies today, the crypto crash of May 2022 has had severe financial consequences. Reliable currencies, including Bitcoin and Ether, met a terrible fate, as did stablecoins, amounting to losses of over US$300 billion.

How Lemi Is Helping Small Businesses Reach Their Customers

How Lemi Is Helping Small Businesses Reach Their Customers

Starting a business isn’t easy. From finding raw materials and making your products to actually reaching the right customer base, everything takes a lot of time and energy. Even though this process is so hard, a lot of people venture out and start their own businesses, so much so that small business enterprises (SMEs) make up 90% of the world’s businesses.

What Is CateCoin and Is It Legit

What Is CateCoin and Is It Legit?

At a time when meme coins, like Dogecoin and Shiba Inu, are enjoying immense popularity, another cryptocurrency has been laying the groundwork to compete with them: CateCoin.

Companies that Might Accept Crypto Payments in 2022

Companies that Might Accept Crypto Payments in 2022

The cryptocurrency industry is growing rapidly, and with that growth comes increased interest from companies looking to accept crypto payments. While there are already a few major companies that accept cryptocurrency payments, like Microsoft and PayPal, many more are considering following suit.

Top 5 Personal Finance Books That You Need to Read

Top 5 Personal Finance Books That You Need to Read

When it comes to financing and budgeting, most of us have to learn everything all by ourselves. From figuring out the right kind of investments to learning how to manage your spending habits, we all need to know more about handling our personal finances.