Slack’s Valuation Rises to $7.1 Billion
The workplace chat software maker raised $427 million from investors.
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Workplace chat software maker Slack Technologies Inc. continued its fervent pace of fundraising with a $427 million round of investment. The deal, led by Dragoneer Investment Group and General Atlantic, values the business at about $7.1 billion, the San Francisco-based company said on Tuesday.
Just under a year ago, an investment from SoftBank Group Corp. valued Slack at $5 billion. The latest deal brings Slack’s total funds raised to $1.27 billion. The company said more than 8 million people use the service every day, and 3 million of those users generate revenue for the business.