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US collaboration platform Slack raising $30M in new funding

April 25
6:30 AM 2014

Enterprise collaboration tool Slack is seeking $30 million in its new funding round. The startup was formed by Flickr co-founder Stewart Butterfield, according to TechCrunch.

When Butterfield left Yahoo, he founded TinySpeck and decided to stick with the enterprise sector. Slack was then launched as a real-time messaging platform that links to other enterprise apps including Dropbox, GitHub, and Google Docs. The startup aims to help monitor different projects using a single platform, the report detailed.

The collaboration tool has achieved quick growth in the enterprise market in last few months. Raising money for its growth is part of its bid to achieve profitability, the report said.

Slack's product allows enterprise teams to interact via mobile without the bugs that earlier collaboration tools have. However, it still has to work on threaded integrations, the report stated.

TinySpeck had been backed by Andreessen Horowitz, Accel Partners, SV Angel, Jeff Weiner, Bradley Horowitz, and Rob Solomon. The firm had previously closed $17 million from these investors, TechCrunch added.

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