Slack valued at $5.1bn after $250mn investment from Japan’s Softbank
Slack has announced that it has received $250mn in funding from Japanese tech giant Softbank, revealing the company’s valuation to be over $5bn.
It is understood that, through its Vision Fund, Softbank led a Series G funding round alongside other investors, to raise its existing $540mn to $790mn.
"We believe that Slack is the future of work, and this fund reinforces that – providing long-term operational flexibility and resources that prepare us to run Slack as a cash-generating company and move quickly as the market evolves," said Slack Founder and CEO, Stewart Butterfield.
The capital raised will enable Slack to look into expanding internationally, with the Vision Fund confident in the company’s ability to do so, offering up its own services to help navigate the startup through any macro-economic uncertainty.
"Slack is the operating system for today's fast moving businesses, enabling teams to work together effectively at a time when businesses need to be responsive to rapid change and disruption," said Deep Nishar, Senior Managing Partner at the SoftBank Vision Fund.
"The Vision Fund is excited to invest in Slack and support its mission to help millions of people, teams and companies collaborate and communicate."
Slack is the latest in a number of technology firms to receive significant capital from Softbank, with the firm being renowned for its sizable investments into startups including Uber and WeWork.
For more, visit Business Review USA for insight into Softbank’s US portfolio.