Slack Is Looking to Raise $400 Million or More

Slack Technologies Inc., which sells workplace chat services, is seeking new funding of about $400 million or more, according to a person familiar with the deal.

The deal would value the San Francisco-based startup at $7 billion, said the person, who asked not to be identified because the discussions are private. Slack last raised funds in September, when SoftBank Group Corp.’s Vision Fund led a $250 million round that valued the company at about $5 billion. Slack declined to comment on the current funding. TechCrunch reported the fundraising effort late Tuesday.