Slack has secured significant new investment money that’s boosted its valuation to $5.1 billion.
The workplace instant-messaging service confirmed Monday it raised $250 million from Japanese firm SoftBank. This is SoftBank’s first investment in Slack. The $250 million also includes funds from other companies, including Silicon Valley-based venture capital firm Accel.
Slack’s previous valuation was $3.8 billion.
The company offers an online messaging service predominantly used by businesses to help employees communicate within teams and bypass long email chains. The startup, which launched in 2014, is led by co-founder and CEO Stewart Butterfield, who previously co-founded Flickr.