Total amount raised
$70 Millions
Latest funding date
June, 2019
Location
Mattermost has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform is designed for secure collaboration, particularly in mission-critical environments.
Keep reading to explore the intricacies of Mattermost's fundraising journey and the investors backing this innovative platform.
What Is Mattermost?
Mattermost, founded in 2016 by Corey Hulen and Ian Tien, is headquartered in Palo Alto, California. The company specializes in providing an open-source platform for secure collaboration across the software development lifecycle.
With a team of 101-250 employees, Mattermost serves over 800 customers and powers more than 800,000 workspaces worldwide. The platform is designed to support mission-critical environments, ensuring secure and efficient communication.
From team messaging and file sharing to workflow automation and real-time voice calls, Mattermost offers a comprehensive suite of tools to keep teams connected and productive. The platform's adaptability and focus on security make it a preferred choice for organizations with stringent requirements.
How Much Funding Has Mattermost Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Early-stage funding to kickstart the development of the platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin initial market entry.
- Seed Round
- Amount Raised: $3.5M
- Date: February 2017
- Lead Investors: S28 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and expand the team.
- Series A
- Amount Raised: $20M
- Date: February 2019
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance product features.
- Series B
- Amount Raised: $50M
- Date: June 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate community expansion, product development, and workforce growth.
Total Amount Raised: $73.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that has funded over 2,000 startups since its inception in 2005. It provides seed funding, advice, and connections to help startups grow.
- Investment Focus Areas: Technology, Software, Consumer Internet
- Notable Investments: Airbnb, Dropbox, Stripe
- Redpoint
- Details: Redpoint is a venture capital firm that invests in seed, early, and growth-stage companies. Founded in 1999, it has a strong track record in backing successful tech startups.
- Investment Focus Areas: Consumer Internet, Enterprise Software, Fintech
- Notable Investments: Netflix, Twilio, Stripe
- S28 Capital
- Details: S28 Capital is a venture capital firm focusing on early-stage investments. It aims to support innovative technology startups with the potential for significant growth.
- Investment Focus Areas: Technology, Enterprise Software, SaaS
- Notable Investments: Not publicly disclosed
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. Since 1983, it has invested in over 400 companies across various stages of growth.
- Investment Focus Areas: Software, IT Infrastructure, Industrial Technology
- Notable Investments: Nutanix, Coupa, Glassdoor
- Y Combinator Continuity Fund
- Details: The Continuity Fund is managed by Y Combinator and focuses on supporting Y Combinator alumni companies in their growth stages. It aims to provide follow-on funding to help these companies scale.
- Investment Focus Areas: Growth-stage startups, Technology, Software
- Notable Investments: Not publicly disclosed
What's Next for Mattermost?
With a total addressable market estimated at $30 billion, Mattermost is poised to expand into sectors like financial services, healthcare, and public sector defense. The growing adoption of messaging platforms within enterprises presents a significant opportunity for Mattermost to become as ubiquitous as email and web conferencing.
Future fundraising seems promising given the recent successful rounds and the vast market potential. However, the company will need to navigate challenges such as competition from established players like Slack and Microsoft Teams, while ensuring high security and compliance standards for its enterprise clients.
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