Slack Technologies, the US-based developer of a workplace communication app, has raised $120m in a series D round co-led by Google Ventures, the Wall Street Journal reported on Friday.
The company secured the funding at a $1.12bn valuation. Google Ventures, the corporate venturing arm of internet company Google, co-led the round with venture capital firm Kleiner Perkins Caufield & Byers.
Andreessen Horowitz, Accel Partners and The Social+Capital Partnership, the three investors in Slack’s $42.8m series C round in April this year, also participated in the round. Slack has now secured about $180m in total funding since it was founded.
M.G. Siegler, general partner at Google Ventures, and John Doerr, general partner at KPCB, will join Slack’s board in conjunction with the funding.
Doerr told the WSJ: “They’ve cracked the code in a very short period of time. Slack is growing more rapidly, with no marketing, than anyone else transforming enterprise communications.”
Slack was founded in 2009 as a video game developer called Tiny Speck, but it only began making serious progress once founder and CEO Stewart Butterfield rebooted the company as a workplace collaboration tool.
The app was supplied to a limited number of users in August 2013 before being launched officially in February. It currently has about 268,000 daily users, more than double the number recorded three months ago.