The Slack messaging app has closed a $427 million round of funding and is now worth more than $7.1 billion, according to CNBC.
Over 8 million people use the business app daily, and the company has over 3 million paying subscribers, including IBM, Target and Capital One.
"We pursued this additional investment to give us even more resources and flexibility to better serve our customers, evolve our business, and take advantage of the massive opportunity in front of us," the company said in a blog post.