Discord: $100 Million Funding And $7 Billion Valuation

By Amit Chowdhry ● December 28, 2020
  • Chat and communications platform Discord recently confirmed that it has raised $100 million in funding at a $7 billion valuation

Chat and communications platform Discord recently confirmed that it has raised $100 million in funding at a $7 billion valuation, according to TechCrunch. Discord also hit another milestone — which is 140 million monthly active users (double the number it was a year ago). And the valuation is double what it was six months ago.

It’s worth mentioning that the funding round is still open so these are not the final numbers for the Series H round yet. TechCrunch’s sources said that Discord will likely raise $40 million more. Greenoaks Capital led the funding round and Index Ventures participated as well.

Originally, Discord started out as a communications channel that is integrated with popular online games. Jason Citron and Stanislav Vishnevskiy had launched the platform as part of the Hammer & Chisel gaming studio for players to communicate tactics to each other. Then the platform gained traction on Twitch and it especially became popular for e-sports environments.

Beyond gaming, the Discord platform also became popular with school clubs, art communities, and stock trading enthusiasts.

KEY QUOTES:

“We are humbled and honored by the growth we’ve seen among so many incredible and diverse communities that have made Discord their place to hang out. As we look to 2021, we are excited about what we have in store and plan to use this funding to help make Discord even better – both for our free service and our Nitro subscribers.”

– Discord co-founder and CEO Jason Citron

“Discord is the best place to gather with your communities, whether to play video games, swap recipes, or collaborate on a project. We believe Discord will evolve and grow alongside the endless innovation in the ways people interact, ultimately connecting billions of people around the world. We are lucky to continue our long-term partnership with Jason, Stan, and the entire Discord team.”

– Neil Mehta, founder and managing partner at Greenoaks Capital