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Slack Raising $160 Million at $2.8 Billion Valuation: Report

In five months, has Slack more than doubled its valuation?

A report from the Wall Street Journal suggests Slack has raised roughly $150 million in a round that valued the company at around $2.9 billion. Citing “people familiar with the matter, the WSJ says new investors in the round—which is expected to close next month—include Institutional Venture Partners, Horizons Ventures, Index Ventures and DST Global.

Slack is by far the fastest Canadian-born startup to achieve a $1 billion valuation. Slack raised $120 million at a $1.1 billion valuation last October at less than a year old.

As of February, Slack boasts 500,000 daily active users across 60,000 teams (including 135,000 paid accounts) and growth is rapid.

“Slack radically increases internal transparency and turns communication archives into a powerful shared resource,” Butterfield said earlier this year. “We feel safe predicting all businesses will move a centralized system for communication within the next 10 years.”