Canada-based social media management platform Hootsuite has launched a $5m fund to invest in entrepreneurs developing apps on top of its platform.
Hootsuite Integration Fund will operate alongside a newly created partner portal aimed at enterprise users that offers full access to Hootsuite’s development tools, a dedicated blog and technical support.
Hootsuite operates a platform that enables businesses to manage their social media presence on services such as Twitter and Instagram.
Entrepreneurs funded by the scheme will also benefit from go-to-market assistance and the opportunity to participate in co-marketing initiatives. The company’s application platform, App Directory, provides access to hundreds of apps and has clocked up more than 2.5 million installations.
Matt Switzer, senior vice-president of strategy and corporate development for Hootsuite, said: “Hootsuite’s wide adoption and fast-paced growth is due in large part to the contributions of developers to our ecosystem.
“We are investing in the Integration Fund to encourage them to continue to develop applications that enable our customers to connect social to marketing, analytics, and other business solutions they rely on every day.”