Mattermost Raises $50 Million For Its Open Source Slack Alternative

An anonymous reader quotes VentureBeat:
Mattermost, a startup developing what it characterizes as an open source messaging alternative to Google's Hangouts Chat, Atlassian's HipChat, Slack, and Microsoft Teams, today announced the closure of a $50 million series B funding round. The round was led by Y Combinator's Continuity Fund, with participation from new investor Battery Ventures, as well as existing investors Redpoint and S28 Capital.

The capital infusion follows a $20 million series A in February and a $3.5 million seed round in February 2017 and brings the Palo Alto, California-based company's total raised to roughly $70 million. As part of the round, Twitter COO Ali Rowghani will join Mattermost as board director and Battery Ventures' Neeraj Agarwal will join as a board observer. The raise comes as monthly downloads of the open source project pass 10,000. To date, more than 1,000 contributors have helped translate Mattermost into 16 languages.

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