The chat app Discord has raised USD 500 million in new funding, the company told Bloomberg. The deal values the company at USD 15 billion, a person familiar with the matter said, more than double the USD 7 billion a year ago in its previous funding round.
Discord announced the new funding in a blog post without providing financial details. The company said it's also passed over 150 million users per month and doubled its number of employees in the past year. In 2020 alone, revenues tripled and the user base doubled.
Discord said the expansion was due in part to looking beyond its traditional base in the gaming community. "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 group said.
Further growth is expected to come from new features in its Nitro subscription services and expanding to Europe with the opening of a new office in Amsterdam. The new office will focus on security and customer service issues, adapting the platform for a multi-lingual audience.
The new Series I funding was led by Dragoneer Investment Group. Other participants included Baillie Gifford, Coatue, Fidelity Management & Research, and Franklin Templeton, alongside existing investors.
