Unicorn Alert: Slack Gets $120M Led by KPCB, Google Ventures
November 03, 2014
Kleiner Perkins Caufield & Byers and Google Ventures have led a $120 million financing round for Slack, a business collaboration platform. The investment reportedly values Slack at over $1.1 billion, meaning the company has quadrupled its worth in just six months; it previously raised $42.75 million of Series C funding led by The Social+Capital Partnership at a $280 million valuation in April. The growth makes sense, considering the company is supposedly adding $1 million of annual recurring revenue each month.
Additional investors in Slack include Andreessen Horowitz and Accel Partners, both of which participated in the company's 2010 $5 million Series A ($21M valuation) and 2011 $10.7 million Series B ($77M valuation). As part of the new deal, KPCB's John Doerr and Google Ventures' M.G. Siegler have joined the company's Board of Directors.