Slack, a San Francisco, CA-based provider of advanced collaboration tools and services, raised $427m in a Series H funding.
The round, which brought the post-money valuation of the company to more than $7.1 billion, was led by Dragoneer Investment Group and General Atlantic, with participation from funds and accounts advised by T. Rowe Price Associates, funds advised by Wellington Management, Baillie Gifford and Sands Capital, as well as existing investors.
This Series H, in addition to the $841m previously raised to date, will allow the company to continue to expand its offering and business reach.
Launched in 2014, Slack provides an application that allows organizations to connect their teams, unify their systems, and drive their business forward, by bringing the right people together with all the right information and tools to get work done. Users can connect conversations with the tools and services that they use to get the job done. With over 1,500 apps and an API, the Slack platform team works with partners and developers globally to build apps and integrations that streamline work, automate mundane tasks and bring context into conversations in Slack.
To expand its offerings and ecosystem, the company has also launched The Slack Fund, an $80m dollar fund that supports developers and small companies building apps for Slack.
The company’s platform today has more than 8 million Daily Active Users (DAUs) and more than 70,000 paid teams including 65 companies from the Fortune 100. Slack also has offices in Vancouver, Toronto, New York, Dublin, London, Tokyo, and Melbourne.