August SMB Software Venture Deals
Each month, we look at funding activity for startups serving the SMB space. See last month’s post here. To learn more about SurePath’s SMB software focus and our SMB Software Thesis, send us a message at info@surepathcapital.com.
The pace of venture deals ramped up slightly in August, with ~$1.2B being invested across 55 completed deals, compared to ~$990M invested across 53 completed deals in July.
Largest Deals
Slack has now cumulatively raised over $1.2B after closing a $427M Series H round in August, giving the collaboration platform a monster $7.13B valuation. This new funding allows the company to continue it’s bold expansion of their offering and business reach, which currently boasts ~8M daily active users and over 70k paid teams. Slack’s latest raise acts as a response to an intensifying level of competition in the space from larger players such as Facebook and Microsoft. That being said, with Atlassian’s HipChat falling victim to Slack’s growth in July, the company has solidified itself as a favored contender that is armed and ready to take on these incoming tech heavyweights.
