• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Tech

Slack Starts $80 Million App Investment Fund

By
Heather Clancy
Heather Clancy
Down Arrow Button Icon
By
Heather Clancy
Heather Clancy
Down Arrow Button Icon
December 15, 2015, 9:15 PM ET

Over its relatively short lifetime, Slack hasn’t exactly been at a loss for venture funding. Now, the well-backed startup is returning the favor.

The workplace collaboration company is teaming with several venture capital firms—including Accel, Andreessen Horowitz, Index Ventures, Kleiner Perkins Caufield & Byers, Spark Growth, and Social+Capital—to create an $80 million fund that will invest in software projects that complement its technology.

The idea is to turn Slack into a “command center” that connects with other cloud business software. “We want to help more developers make a bet on the Slack platform,” said April Underwood, a former Twitter executive who joined Slack in June to craft its partnership strategy. “We want them to have access to the capital they need.”

Since Slack’s launch in early 2013, the company has raised more than $320 million in funding—its $160 million round in April boosted the San Francisco company’s private valuation to nearly $3 billion. The workplace messaging software has amassed 2 million daily active users since the service officially launched in February 2014—that’s almost double the tally from six months ago. And many Slack users stay connected to the service an average of 10 hours daily, Underwood said.

Central to Slack’s new initiative is an application programming interface (API) that allows developers to connect the messaging service with their own applications. At last count, there were already more than 150 “approved” applications connected with Slack, including well-known services such as Twitter (TWTR), Dropbox, Google (GOOG), and Uber.

The Twitter extension, for example, pipes updates from the social media network into a Slack “channel” so that marketing teams can keep tabs on complaints or comments and discuss them. The Uber integration, meanwhile, allows someone to book a ride using simple commands sent as Slack messages.

But the main focus of the new fund is to provide relatively unknown companies with early-stage infusions. “Developers are already taking Slack into a number of interesting verticals and business functions,” said Accel general partner Andrew Braccia. “We think Slack, like [Apple] iOS and Android, will be a rich platform on which applications can be created and monetized.”

One example of a partner that could benefit from the fund is Envoy, a reception-desk application that runs on tablet computers. With just $15 million in funding, the two-year-old company connects with Slack to use the service as a notification system to message employees when visitors arrive at a facility. The fund is designed to make integrations like this easier for small companies and startups to prioritize.

Slack’s new fund has already made several investments. The company didn’t disclose any company names, but it plans to list certain “Slack-ready” applications in a new App Directory after reviewing them. That approach is similar to the Salesforce App Exchange or Google’s app marketplace.

Can Slack succeed in its mission to dominate workplace collaboration? The company’s viral momentum remains one of its key competitive advantages, but it faces pretty stiff competition. There are dozens of other companies angling for a piece of the market, ranging from Atlassian (TEAM) , which made its highly successful IPO debut last week, to Microsoft (MSFT), which is betting big on its new Groups feature in Office 2016 to keep Slack in check.

Slack CEO Stewart Butterfield insists he isn’t out to get email. See for yourself in this Fortune video:

Follow Heather Clancy on Twitter at @greentechlady. And please subscribe to Data Sheet, Fortune’s daily newsletter on the business of technology.

Join our exclusive webinar on May 28, featuring tech leaders from Orange, Mars, Reckitt, and Saint-Gobain. Apply to attend and receive Fortune’s editorial takeaways.
About the Author
By Heather Clancy
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

elon
SuccessIPOs
SpaceX IPO targets $28.5 trillion total addressable market, mission to ‘make life multiplanetary’ and understand ‘true nature of the universe’
By Nick LichtenbergMay 20, 2026
7 minutes ago
Jensen Huang, chief executive officer of Nvidia
AINvidia
Nvidia gets tepid reaction to forecast, boosts investor rewards
By Ian King and BloombergMay 20, 2026
29 minutes ago
SpaceX finally files IPO prospectus, reveals revenue is up–but losses are too
Big TechSpaceX
SpaceX finally files IPO prospectus, reveals revenue is up–but losses are too
By Allie GarfinkleMay 20, 2026
39 minutes ago
Elon Musk sits with his fists together, looking up.
Commentaryspace
SpaceX will be worth trillions, but the space station that made it possible is worth even more — if we don’t squander it
By Tejpaul BhatiaMay 20, 2026
52 minutes ago
Antler CEO Magnus Grimeland says Silicon Valley doesn’t have a monopoly on tech: ‘People can innovate from almost anywhere’
AsiaAsia Agenda
Antler CEO Magnus Grimeland says Silicon Valley doesn’t have a monopoly on tech: ‘People can innovate from almost anywhere’
By Angelica AngMay 20, 2026
1 hour ago
Clinical Psychologist Daniel Wendler
ConferencesWorkplace Innovation Summit
A ‘proudly autistic’ workplace expert says putting neurodivergent employees in a typical office is like dropping a polar bear in Austin, Texas
By Tristan BoveMay 20, 2026
2 hours ago

Most Popular

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
1 day ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
3 days ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
8 days ago
Current price of oil as of May 19, 2026
Personal Finance
Current price of oil as of May 19, 2026
By Joseph HostetlerMay 19, 2026
1 day ago
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
Travel & Leisure
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
By Rio Yamat and The Associated PressMay 18, 2026
2 days ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
7 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.