US-based web and app communications platform Layer has established a fund that will provide seed funding to startups developing products using its service.
Layer Fund I will provide between $50,000 and $100,000 in seed funding to startups and will operate as a syndicate through investment platform AngelList. It was originally proposed by one of Layer’s backers, Bloomberg Beta, the corporate venturing unit of media company Bloomberg.
Bloomberg Beta and fellow Layer investors AnthemVP, Crunchfund, Data Collective, Jean Pigozzi, Promus Ventures, SV Angel and MkII Ventures, have all backed Layer Fund I. Layer’s other backers, Homebrew, AME Cloud Ventures and Fuel Capital, may choose to invest in companies alongside the fund.
Layer’s platform enables developers to add the ability for users to send text, voice and video messages to their applications by inserting less than 10 lines of code. More than 12,000 developers have so far integrated Layer’s technology into their software.
Startups will be able to apply for seed funding beginning with a demo day in June 2015 at Bloomberg Beta’s technology hub. Applications for the demo day are open as of this week.
Layer has raised $22m in funding to date, most recently closing a $14.5m series A round in May 2014.