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YC Leads $50M Series B in Mattermost, the Open Source Slack Alternative

“Open Source Slack” brings modern workplace messaging to high-trust organizations and to the real-time operations and collaboration needs of developers and IT teams

/EIN News/ -- PALO ALTO, Calif., June 19, 2019 (GLOBE NEWSWIRE) -- Mattermost, the fastest growing messaging platform for developers and IT teams, today announced that it has closed a $50 million series B led by Y Combinator Continuity, with participation from new investor Battery Ventures and existing investors Redpoint and S28 Capital. This latest funding round follows on a $20M Series A led by Redpoint announced in February.  In connection with the financing, Ali Rowghani, CEO of Y Combinator Continuity, has joined the Mattermost Board of Directors.

With today’s announcement, Mattermost becomes YC’s largest ever Series B investment, and largest open source investment to date. "This is YC's largest investment in an open source company.  We believe that open source will drive innovation in enterprise messaging and collaboration just as it has for the infrastructure stack that powers many of the world's largest companies,” said Ali Rowghani, CEO of Y Combinator Continuity.

The company will use this new funding to accelerate community expansion and product development in this new and fast-growing market. Product investments will focus on increasing the speed at which additional security, compliance, end user experience and orchestrations upgrades are added to the platform to meet the most demanding needs of Global 2000 enterprises.

Mattermost has experienced tremendous growth and customer traction in high-trust industries including strong adoption in the Global 2,000 and public sector organizations. Privacy-conscious enterprises seeking to increase productivity and empower technical teams through workplace messaging choose Mattermost over vendor-controlled alternatives that cannot meet strict security and data control requirements.

"Mattermost is an important contributor to Uber’s internal productivity. It is our internal standard for chat; empowering collaboration for our employees, and internal contractors. Its integration with our engineering and operational workflows helps ensure that our most well-known products are highly reliable,” says Ben Booth, IT director at Uber.

Team messaging and collaboration needs an open source option

Open source brings a new level of innovation, integration, and trust to all the domains it touches. Mattermost is developed in deep partnership with its contributor community. The community is behind many of the innovations and breadth of features Mattermost is able to deliver. The Mattermost platform has been translated into 15 languages by the community and over 600 integrations have been built to extend the platform.

There are more than 1,000 contributors to core Mattermost software, and every month over 10,000 Mattermost servers are downloaded.

About Mattermost

Mattermost’s mission is to make the world safer and more productive by developing and delivering secure, open source collaboration software that is trusted, flexible and offers fast time-to-value. Mattermost’s first product is a collaboration platform built to accelerate DevOps workflows in high-trust environments by offering secure messaging collaboration across web, desktop, and native mobile devices.

Editorial Contact:
Lonn Johnston
+1 650.219.7764