Total amount raised
$1.4 Billions
Latest funding date
Location
Title
Slack has successfully navigated multiple funding rounds, culminating in its acquisition by Salesforce for $27.7 billion. The platform offers a suite of tools designed to enhance team collaboration and productivity.
Keep reading to explore the intricacies of Slack's fundraising journey and the investors backing this innovative platform.
What Is Slack?
Slack, founded on January 1, 2009, in San Francisco, California, is a cloud-based communication and collaboration platform for teams. It allows users to exchange messages, share files, and integrate with various business tools and services.
The company was founded by Cal Henderson, Eric Costello, Serguei Mourachov, and Stewart Butterfield. Slack is widely used across various industries, from tech startups to large enterprises.
With a workforce of 1001-5000 employees, Slack continues to innovate in the realm of work management and productivity tools, bringing people, projects, apps, and AI together.
How Much Funding Has Slack Raised?
- Series B
- Amount Raised: $10.7M
- Date: April 2011
- Lead Investors: Accel, Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product development and scale operations.
- Series C
- Amount Raised: $42.8M
- Date: April 2014
- Lead Investors: Social Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance platform features.
- Series D
- Amount Raised: $110.8M
- Date: October 2014
- Lead Investors: Google Ventures, Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve infrastructure.
- Series E
- Amount Raised: $172.7M
- Date: April 2015
- Lead Investors: Social Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and product innovation.
- Series F
- Amount Raised: $208M
- Date: April 2016
- Lead Investors: Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance user experience and integrate new technologies.
- Series G
- Amount Raised: $412.7M
- Date: September 2017
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and prepare for potential IPO.
- Series H
- Amount Raised: $427M
- Date: August 2018
- Lead Investors: Dragoneer Investment Group, General Atlantic
- Valuation at Round: Over $7.1 billion
- Motivation Behind the Round: To take advantage of good valuations and prepare for future uncertainties.
- Secondary Market
- Date: January 2019
- Investor Count: 3
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $1.384B
Current Valuation: Over $7.1 billion
Key Investors
- Dragoneer Investment Group
- Details: Dragoneer Investment Group led the Series H funding round for Slack. They specialize in high-growth technology companies.
- Investment Focus Areas: Technology, consumer, financial services.
- Notable Investments: Airbnb, Uber, Spotify.
- General Atlantic
- Details: General Atlantic co-led the Series H funding round for Slack. They focus on growth equity investments.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: Alibaba, ByteDance, Snapchat.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund led the Series G funding round for Slack. They are known for investing in transformative technology companies.
- Investment Focus Areas: Technology, telecommunications, energy.
- Notable Investments: Uber, WeWork, ARM Holdings.
- Accel
- Details: Accel was a lead investor in Slack's Series B funding round. They invest in early and growth-stage technology companies.
- Investment Focus Areas: Technology, consumer, enterprise software.
- Notable Investments: Facebook, Dropbox, Spotify.
- Andreessen Horowitz
- Details: Andreessen Horowitz participated in Slack's Series B funding round. They invest in technology companies at various stages.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Facebook, Airbnb, GitHub.
What's Next for Slack?
Slack's future is brimming with opportunities. The platform is poised to expand its user base and market share, particularly by targeting larger enterprises. With over 8 million daily active users and 70,000 paying teams, the potential for growth is substantial. Integrating with more software and apps will further enhance its appeal, making it an indispensable tool for businesses of all sizes.
Given its history of opportunistic fundraising, Slack may continue to seek additional funding rounds to capitalize on favorable valuations. This approach will support scaling operations and consolidating its market position. However, the company faces significant challenges, including intense competition from tech giants like Facebook and Microsoft. Continuous innovation and improvement will be crucial to maintaining its edge in the crowded workplace communication space.
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