Slack just raised $200 million for a $3.8 billion valuation

Slack is now worth $3.8 billion dollars

Slack has confirmed that it has raised $200 million at a $3.8 billion valuation.

The newest funding round at the company was led by Thrive Capital. Other participants included GGV, Comcast Ventures, and Slack’s existing investors, including Accel and Social Capital.

The company has raised $540 million to date. The last $160 million round which valued the company at a $2.8 billion valuation occurred exactly one year ago.

In just over two years Slack has become one of the most widely used communication and chat programs for businesses. The program allows users to send messages, start private groups, and search archives full of data.

The company now calls 2.7 million daily active users among its ranks of which 800,000 of them are paid users.

In February Slack said it is on pace to earn $64 million in revenue by the end of the year.

Slack CEO Stewart Butterfield has a lofty goal to end interoffice email for company’s that use Slack.

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A recent survey by Slack found that its users have reduced office email by nearly 50% after adopting the platform.

“As has always been the case, we are taking this opportunity to further secure our leadership position as we continue to execute on our ambitious growth plans. This capital adds to our existing reserves and increases our ability to focus on an uncompromising long-term, strategic view,” Slack CEO Stewart Butterfield said in a statement.