Chat Platform Discord Raises $500 Million, Valuation More Than Doubled In Less Than a Year

September 16, 2021 9:04 AM EDT

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A popular chat app Discord announced today it raised $500 million in the latest funding round led by Dragoneer Investment Group.

Bloomberg reported earlier that the company raised funds at a private market valuation of $15 billion.

Baillie Gifford & Co, Coatue Management, Fidelity Management & Research Co and Franklin Templeton also participated in the financing.

In the business update posted on the website, Discord said it has now surpassed 150 million people that come to the platform every single month.

“This huge growth is due to the great strides we’ve made by expanding Discord beyond our roots in gaming to become one of the most popular communications platforms in the world. From career fairs and new music drops, fireside chats and wellness seminars, karaoke sessions and book clubs, Discord has become an inclusive place for people to hang out with others, build lasting relationships, and find belonging” the company said.

The latest funding round comes a few months after the chat platform was in talks with Microsoft (NASDAQ: MSFT) over a potential $10 billion takeover.

Last December, the company raised $100 million at a valuation of 7 billion. For 2020, the company reported revenue of $130 million.

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Baillie Gifford & Co., Coatue Management