Stewart Butterfield’s Slack Is Securing $30 Million In New Funding.
A San Francisco-based company with an enterprise communication application, has recently announced that it has managed to secure a total amount of $42.75 million from its latest funding round, led by venture firm Social+ Capital Partnership in a Series C funding. The capital will be utilized for scaling up Slack’s operation, to cater to its rapidly increase customer base.
Led by Flickr’s co-founder Stewart Butterfield, Slacks main goals are to ultimately reduce the dependence of organizations on email and increase the productivity of an enterprise “Within 10 years everyone will use a centralized system for internal communication because email does so poor of a job,” according to Butterfield.
The Slack application consolidates work and messaging from a variety of other applications scuh as Asana, Google Docs, and Dropbox, in one platform, reducing email clutter. It also allows users to search from archived correspondences, increasing the efficiency of collaboration between teams.
The company’s number of daily users has soared up to 60,000, equivalent to an average growth of 15% per week since Slack’s launch during February. The company charges users $8 per month for the platform and the services it offers, and has remained highly lucrative since its official launch. The success of the company can be evaluated from the fact that the platform has begun to pick up among renowned startups as well as established corporations such as Airnbn, SoundCloud, Buzzfeed, Wal-Mart, and Comcast, for internal communication services.
Founding back in 2009 under the name of Tiny Speck inc, the company initially focused on multiplayer game Glitch. Sometime later, it shut off its online gaming venture in order to pursue a solution to business problems, which developed into the creation of the application known as Slack. The company has employed over 25 people, who constantly review and test the applications various functions and integrate its various business tools and software.
With this recent funding round, investor expect slack to expand its team, localize and expand its services abroad, and acquire new businesses that would complement the services it offers and accelerate the growth of the company. It will also help Slack sustain “its staying power’ according to the co-founder“This makes it a lot tougher for anyone to acquire us,” he added.