Popular enterprise chat app Slack raises $200-million, now valued at $3.8-billion


Slack has raised an additional $200 million USD in equity funding, according to a report from VentureBeat. The company is now valued at $3.8-billion.

The company’s latest round was led by Thrive Capital, with participation from Comcast Ventures, Accel Partners, GGV, Index Ventures, Social Capital, Spark Growth and other investors. To date, Slack has raised close to $540-million in venture capital funding. This latest investment represents 40 percent of the company’s total funding.

“As has always been the case, we are taking this opportunity to further secure our leadership position as we continue to execute on our ambitious growth plans,” said Butterfield in an interview with Wired. “This capital adds to our existing reserves and increases our ability to focus on an uncompromising long-term, strategic view.”

The news came just a few weeks after Slack celebrated its second anniversary with 2.3 million daily active users.

The company will likely use the funding to fuel its ambitious plans for the communication platform, including taking on Google Hangouts and Skype with video chat, using machine learning to look at how companies can make sense of large volumes of conversation, and removing friction between different organizations working together.

This article was originally posted on our sister site BetaKit.