Messaging and workplace collaboration startup Slack Technologies Inc. is set to raise about $250 million in a funding round, reports Axios citing sources familiar with the matter. Slack has not confirmed the news yet.
SoftBank and Accel Partners are expected to co-lead the new funding round which expected value the startup at more than $ 5bn. Accel is an existing investor at Slack. Slack was valued $3.8 billion in its last round of valuation in April 2016.
Bloomberg reports that Softbank is helping drive a new venture capital boom after raising a mega fund that could reach $100 billion.