Image used with permission by copyright holderThe popular communication collaboration platform Slack has raised another $200 million in venture capital financing — and along with it, a valuation close to $4 billion.

　　This marks Slack’s biggest round of financing yet, and it comes during a time of tightened purse strings in the realm of venture capital investing for startups, according to Reuters. The $200 million round, which was confirmed by Slack, brings the company’s total venture funding to $540 million.

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　　The latest funding also brings Slack’s valuation to around $3.8 billion, which is about $1 billion, more than its $2.8 billion valuation last year. This makes the startup one of the fastest-growing “unicorns” out there.

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　　“As has always been the case, we are taking this opportunity to further secure our leadership position as we continue to execute on our ambitious growth plans,” said Slack co-founder and CEO Stewart Butterfield in a statement. “This capital adds to our existing reserves and increases our ability to focus on an uncompromising long-term, strategic view.”

　　Slack, founded in 2013, boasts 2.7 million daily active users, and about 800,000 of them are paid users.

　　Microsoft recently contemplated submitting a bid for Slack as large as $8 billion, which would have been nearly double the startup’s latest valuation. Co-founder, technology adviser, and board member Bill Gates and CEO Satya Nadella were among those who were not in favor with pursuing the acquisition.