Slack raises $427 USD million with $7.1 billion USD valuation

Slack socks

Slack has raised $427 million USD in a Series H round led by Dragoneer Investment Group and General Atlantic, according to a report from TechCrunch.

The round values Slack at over $7.1 billion, and was first reported by TechCrunch earlier this month. The company has only now confirmed the round with participating investors including T. Rowe Price Associates, Inc., funds advised by Wellington Management, Baillie Gifford, Sands Capital, and unnamed investors.

Slack last raised $250 million USD in a round led by SoftBank last year, as the enterprise chat service looked to expand in Japan. To date, it’s raised $841 million from investors like Kleiner Perkins, Accel, and Andreessen Horowitz.

In July, Slack made a move to boost its user base by acquiring Atlassian’s HipChat and Stride collaboration service.