Slack, the tool on Internet for messaging that has a goal of streamlining group communications during a time of email overload has raised another $200 million giving it a new valuation of more than $3.8 billion.
Slack to date has been able to raise $540 million. Its financially round one year ago was able to raise $160 million.
In its most recent fundraising, which Thrive Capital led, with participation from Comcast Ventures, GGV and investors that previously participated such as Index Ventures and Accel, is impressive for the fact this year promises to be mighty tough on the startups that are looking for new capital.
In one interview during 2015, Stewart Butterfield the co-founder and CEO at Slack suggested that the business was happy to operate off existing cash, but apparently, an opportunity to secure even further its leadership position in this space with the addition of new investors proved too difficult to pass up.
In a prepared stated released Friday, since Butterfield is in Australia opening a new office for Slack, the CEO said that the capital would add to the existing reserves the company has and will increase the ability to focus on the uncompromising, strategic long-term view.
Thrive Capital’s managing partner Josh Kushner explained the company’s investment in Slack in one short statement, which describes the business as the future of a seamless communication in a world that is increasingly more complex across different platforms, applications and teams.
Slack has a pair of models; its free service for smaller groups that sign up and can communicate using ongoing message streams along with a subscription for business that includes message archiving along with other features.
Slack has over 2.7 million active users daily, about one third of whom are paying for their service. Those include businesses such as NASA, Dow Jones, Harvard University and Spotify.
In March, reports surfaced saying Microsoft had considered briefly, but then rejected making an offer of $8 billion to acquire Slack after Bill Gates the co-founder urged Satya Nadella the CEO to instead increase the capabilities of Skype.