SoftBank Vision Fund – Investment in Slack, the Business Communication Platformby Company Announcement September 18, 2017
Slack has announced today a Series G funding round led by Softbank Vision Fund with Accel as second largest investor – expands Slack’s existing $540M funding by an additional $250M; post-money valuation now at $5.1B [April 2016: $3.8bn].
Capital to be used as a war chest to allow Slack to move quickly as the business and market evolves, particularly around international expansion. Current market conditions also provided a favourable opportunity for raising capital, helping to provide for potential future macroeconomic uncertainty
SoftBank Vision Fund sees Slack as a rapidly growing platform business that will be the glue that joins together the wide range of tools and services people use at work. It is a clear sector leader in collaboration, work automation and business communications, led by a seasoned team of experienced founders and operators.
Deep Nishar, Senior Managing Partner at the SoftBank Vision Fund, said:
“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. The Vision Fund is excited to invest in Slack and support its mission to help millions of people, teams, and companies collaborate and communicate. ”
Stewart Butterfield, CEO and founder of Slack, said:
“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.”
“Softbank’s Vision Fund and Accel are ideal investors for Slack. The Vision Fund’s focus on global technology platforms aligns with our recent international expansion, while Accel has been with us as investors and partners from the very beginning.”