Slack Closes $250 Million from Softbank

Slack announced the completion of $250 million in financing from SoftBank Group, which brings the enterprise collaboration company’s valuation to $5.1 billion.

Slack is a team communication application that provides services that include real-time messaging, archiving, and search for modern teams. It offers one-on-one messaging, private groups, ongoing chat rooms and direct messaging, as well as group chats organized by topic. All content inside Slack is searchable from a single search box and the system integrates with a number of third-party services, including Google Docs, Dropbox, and Zendesk.

In its announcement, Slack CEO Stewart Butterfield said Softbank provides resources that will help Slack to run as a cash-generating company and reduce its dependence on outside financing.