Observe.AI backer Zendesk creates fund to invest in AI startups

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Observe.AI backer Zendesk creates fund to invest in AI startups

Zendesk, a customer engagement software provider, has established a global venture capital fund to invest in early-stage AI-first companies. The company, which was taken private in 2022, aims to enhance its AI offerings by adding more AI-first companies under its umbrella. Zendesk Ventures will focus on investing in startups from seed through Series A stages.

The corporate VC arm of Zendesk, Zendesk Ventures, plans to invest tens of millions of dollars with cheque sizes of up to $1 million in AI startups. The company's CEO, Tom Eggemeier, highlighted the importance of AI in transforming customer and employee service experiences. Zendesk has previously made strategic investments in AI startups and recently announced investments in PolyAI and unitQ.

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