Total amount raised
$1.4 Billion
Latest funding date
1/1/2019
Location
Slack has successfully raised funds through 13 rounds, attracting a diverse group of 48 investors. The platform has also made significant investments in other companies and raised a venture fund named Slack Fund I.
Keep reading to explore the intricacies of Slack's fundraising journey and the investors backing this innovative platform.
What Is Slack?
Slack, a cloud-based communication and collaboration platform, is headquartered in San Francisco, California. The company operates within the industries of collaboration, enterprise software, messaging, productivity tools, and SaaS. With an employee count ranging from 1001 to 5000, Slack has established itself as a significant player in the tech industry.
Founded to enhance work management and productivity, Slack integrates various functionalities such as messaging, file sharing, project management, and AI-driven automation. The platform is widely used across different industries and departments, offering tailored solutions to improve team communication and efficiency.
How Much Funding Has Slack Raised?
- Series B
- Amount Raised: USD 10,700,000
- Date: April 2011
- Lead Investors: Accel, Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase user adoption.
- Series C
- Amount Raised: USD 42,750,000
- Date: April 2014
- Lead Investors: Social Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series D
- Amount Raised: USD 110,750,000
- Date: October 2014
- Lead Investors: Google Ventures, Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and market expansion.
- Series E
- Amount Raised: USD 172,700,000
- Date: April 2015
- Lead Investors: Social Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand globally.
- Series F
- Amount Raised: USD 208,000,000
- Date: April 2016
- Lead Investors: Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and increase market share.
- Series G
- Amount Raised: USD 412,700,000
- Date: September 2017
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: USD 5,100,000,000
- Motivation Behind the Round: To fuel growth and prepare for future uncertainties.
- Series H
- Amount Raised: USD 427,000,000
- Date: August 2018
- Lead Investors: Dragoneer Investment Group, General Atlantic
- Valuation at Round: USD 7,100,000,000
- Motivation Behind the Round: To scale up, consolidate by buying competitors, and target bigger customers.
- 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: USD 1,389,850,000. Current Valuation: USD 7,100,000,000.
Key Investors
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm based in San Francisco. They focus on partnering with high-quality businesses that have strong market positions and long-term growth potential.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Airbnb, Uber, Spotify.
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. They have a long history of investing in technology and innovation-driven businesses.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: Alibaba, Airbnb, Uber.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest technology-focused investment funds in the world. They invest in market-leading, tech-enabled growth companies.
- Investment Focus Areas: Technology, telecommunications, AI.
- Notable Investments: WeWork, ByteDance, Uber.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm based in New York City. They focus on building and investing in internet and software-enabled companies.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Instagram, Stripe, GitHub.
- Social Capital
- Details: Social Capital is a venture capital firm that aims to advance humanity by solving the world's hardest problems. They invest in companies across various stages and sectors.
- Investment Focus Areas: Healthcare, education, financial services, technology.
- Notable Investments: Yammer, Box, SurveyMonkey.
What's Next for Slack?
Slack's future is brimming with opportunities. With a substantial user base and a recent $427 million funding round, the company is poised to enhance its product offerings and target larger enterprises. The workplace communications market is vast, and Slack's growth potential remains significant.
Future fundraising opportunities are likely, given Slack's opportunistic approach and strong market position. The company may also pursue acquisitions to consolidate its market share. However, challenges such as intense competition from tech giants and the need for continuous innovation could pose hurdles along the way.
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