San Francisco-based chat platform Discord announced Tuesday that it closed on a $100 million financing round. The additional capital now places the company at a reported valuation of $3.5 billion, according to Forbes.
The messaging platform began as a virtual chat space for video game players to gather and discuss the latest in gaming-related tips, cheats and industry trends. Given the latest round of financing, the company is looking to broaden its user base to include those outside of the gaming community. Discord wants to make its invite-only chat server software accessible to everyone.
“Games are what brought many of you on the platform, and we’ll always be grateful for that. As time passed, a lot of you realized, and vocalized, that you simply wanted a place designed to hang out and talk in the comfort of your own communities and friends,” Jason Citron, CEO and co-founder of Discord, said in a blog post addressed to Discord users.
According to the company, Discord has over 100 million monthly active users. In a newfound era of social distancing, the platform might be considered a valuable resource for those looking to find and foster virtual connections with like-minded individuals.
“We all spend a lot of time in front of our screens. As we look back at the last few months, it’s clear that as people spend more and more time online, they want online spaces where they can find real humanity and belonging,” Citron said in the blog entry.
The company recently launched a new diversity initiative that includes updated guidelines for how Discord users can report racist language. The company also announced that it intends to take “decisive action” against white supremacists who choose to use the platform to promote hateful and violent rhetoric. On Juneteenth, the company announced other initiatives to strengthen civic engagement, social justice and diversity on the chat platform.
“We’re also always working on keeping Discord safe and making it hostile to hate,” Citron continued. “This is just the beginning of Discord’s journey to be a place for all of your communities to talk and build relationships.”
In addition to its latest diversity initiatives, the company recently launched new server templates and video chat capabilities for its users. Additional improvements will also be made to the platform’s user onboarding process.
“We’re thrilled to be able to take the magic of online games and bring it to the rest of the world: the power to create belonging,” Citron said.
Discord has raised $279.3 million in venture capital to date, according to Crunchbase.
