Business-messaging app Slack continues to bulk up its funding at nearly the same rate it’s adding users.
The San Francisco-based startup, which was founded by Vancouver’s Stewart Butterfield, confirmed Thursday (April 16) it’s raised another US$160 million.
The big investment puts its valuation at US$2.8 billion, while it’s userbase has grown to about 750,000 people in a year.
New investors in the latest funding round include Horizons Ventures, Digital Sky Technologies, Index Ventures, Spark Capital Growth and Institutional Venture Partners.
Slack’s total investment has reached US$340 million after a previous round of funding brought in US$180 million from Accel Partners, Andreessen Horowitz, The Social+Capital Partnership, Google Ventures, and Kleiner Perkins Caufield & Byers.
All those investors also participated in the latest funding round.
“Our new roster of investors reflects Slack’s global audience, and they’ll be essential partners in our continued growth,” CEO Butterfield said in a statement.
“We take a very long view of both the opportunity before us and the company we want to build. We’re still at the beginning of a major transition in how people communicate and work together.”
Although Slack is headquartered in San Francisco, Butterfield lives in Vancouver and works in offices in both B.C. and California.
He told Business in Vancouver in November most of the investment work and board meetings take place in San Francisco, while Slack’s design and front-end work is mostly done in Vancouver.
“I have this nice physical division between the two parts of my responsibilities,” Butterfield said.
Last fall, Slack had about 70,000 users paying to use its business-messaging tool. The company said that number has now grown to 200,000.
