Slack raises $427 million USD in latest round of funding

This round’s lead investors are Dragoneer Investment Group and General Atlantic

square slack

Business collaboration and productivity app Slack has raised an additional $427 million USD (approximately $557.29 million CAD) in its latest round of funding.

According to an August 21st, 2018 media release, Slack’s Series H funding round was led by San Francisco, California-based Dragoneer Investment Group and New York-based General Atlantic.

Slack’s latest round of funding means that the company has raised approximately $1.27 billion USD (roughly $1.65 billion CAD).

According to Slack’s latest media release, the company boasts approximately eight million daily active users, as well as more than 70,000 teams that pay for the service.

“The way people work is changing, and we are committed to delivering the best product and experience for our customers in this new era,” reads an excerpt from Slack’s latest media release.

“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.”

Source: Slack