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article imageSlack is raising a $400 million funding round

By Lisa Cumming     Aug 8, 2018 in Technology
Almost a year after raising $250 million in a Series G funding round, Slack is reportedly raising an even bigger round this time around.
Reports from TechCrunch said that the office collaboration application is looking to raise a round somewhere in the area of $400 million, led by General Atlantic, and have a post-money valuation of $7 billion.
Post-Slack's Series G funding round in 2017, the value of the company sat at $4.9 billion. The round was led by SoftBank.
Not only does the app have 8 million daily active users and 3 million paid users, it's also being watched closely by competitors.
GeekWire reported that Microsoft had added Slack to its list of official rivals in the annual 10-K report to the SEC.
In July, Slack announced that it had acquired Missions, an enterprise software startup. This acquisition was the third in Slack's history.
As the company continues to grow, Slack is more focused on looking to be seen as "collaboration hub" and not just a chat app, according to Brian Elliott, the VP and general manager of Slack Platform, during an interview with GeekWire.
“I think that people still don’t get the fact that at the base we are a collaboration hub,” he said in the interview. "If you talk to people who are heavy Slack users and see what they do, you get that it’s actually a primary way in which people get their work done.”
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