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Slack Raises $427 Million Series-H Round of Financing From New Investors (at Valuation of more than $7.1 Billion)
Tuesday, August 21, 2018Company Profile | Follow Company
San Francisco (& Vancouver, BC), CA, August 21, 2018--(T-Net)--Slack announced today that it has raised an additional $427 million of investment at a post-money valuation of more than $7.1 billion.
This Series H equity round is in addition to the $841 million previously raised (for a total capital raise now exceeding $1.26 billion).
The lead investors of this latest financing round are Dragoneer Investment Group and General Atlantic, joined by funds and accounts advised by T. Rowe Price Associates, Inc. and funds advised by Wellington Management, and Baillie Gifford and Sands Capital, as well as existing investors.
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Editor's Note: Slack has major offices in the Yaletown area of Vancouver, BC
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"The way people work is changing, and we are committed to delivering the best product and experience for our customers in this new era. We pursued this additional investment to give us even more resources and flexibility to better serve our customers, evolve our business, and take advantage of the massive opportunity in front of us", stated the company in its blog announcement.
Stewart Butterfield, Slack CEO and co-founder. Butterfield, who was born in BC, was also a Co-Founder of Flickr, a photo sharing platform that also began in Vancouver (and later sold to Yahoo).
"Even with our rapid growth in just four years—we now have more than 8 million Daily Active Users (DAUs) and more than 70,000 paid teams—there is still enormous potential to change the way that people and organizations collaborate and work together".
About Slack
Slack is a messaging platform for teams that brings all communication together, creating a single unified archive accessible through powerful search. It integrates with dozens of popular services such as Twitter, Dropbox, Trello, Asana, Google Docs, JIRA, MailChimp, Stripe, Zendesk, and others to help consolidate and make sense of the ever-growing flows of data that confront modern teams. Based in San Francisco, and with offices in Vancouver, Slack has raised $340 million from some of the world's best recognized investors including Accel, Andreessen Horowitz, Social+Capital, KPCB, Google Ventures, Horizons Ventures, IVP, Spark, DST, and Index.
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