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This open source messaging startup raised $50 million to take on Slack and Microsoft Teams and rope in customers who care a lot about privacy

This open source messaging startup raised $50 million to take on Slack and Microsoft Teams and rope in customers who care a lot about privacy
Mattermost



On Wednesday, the messaging app Mattermost announced it closed $50 million in series B funding.




Mattermost is an alternative to Slack and Microsoft Teams, and what makes it different is that it's available as open source and allows customers to control where and how their data is stored.




Mattermost CEO Ian Tien explains how his company pivoted from a gaming company in Y Combinator to a messaging app that is now used by customers like Uber and NASA.




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Slack's $17 billion direct listing, expected this week, is not the only sign that the market for workplace messaging tools is booming.
Mattermost, a messaging app designed for businesses with serious pivacy and security needs, announced a $50 million funding round on Wednesday, roughly four months after scooping up its first, Series A round of funding.
"Given all the press Slack has gotten and Microsoft is in the market too, there's an assumption that this space is spoken for, but it's still in the early days," said Ali Rowghani, a partner at Y Combinator, which is leading the Mattermost funding round. "I think we'll realize this market is a lot bigger than we thought it was."
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