Investors and innovators have been trying to develop better tools for groups to communicate, collaborate, and make decisions for decades. Since businesses have become increasingly global and engage more remote workers, the need for collaboration tools is even more pronounced. And while hundreds of millions have been spent on technology, investors still think that there’s more work to be done.
Friday saw the confirmation of a new $120 million investment in the collaboration software developer Slack. That investment values Slack at over $1 billion, making it the latest enterprise facing software startup to become a unicorn.
Slack’s metrics are as impressive as its valuation, with 30,000 active teams that send more than 200 million messages each month, and more than 73,000 of the daily active users registered as paid seats, according to the company. Slack also says that it’s now pulling in $1 million each month in recurring revenues.
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