Mattermost, a Palo Alto, California-based open source software company, raised $50m in Series B funding round.
The round was led by Y Combinator Continuity with participation from Redpoint, S28 Capital and Battery Ventures.
The company intends to use the funds to continue to accelerate community expansion and product development.
Led by Ian Tien, CEO and co-founder, Mattermost is an alternative to Slack and Microsoft Teams delivering collaboration and messaging to enterprises on an open source platform. The solution is developed in deep partnership with its contributor community, who translate the software into 16 languages and have started hundreds of open source projects on it.
Thousands of companies use Mattermost for communications across web, PC, and phone, with archiving, search and integrations with hundreds of business applications.