The popular VoIP and instant messaging platform Discord is closing a new round of funding that would place its valuation at up to $7 billion, TechCrunch reports, whereas Discord closed a $100 million round that valued it at $3.5 billion just in June. 

Discord has seen a high usage uptick as a Covid-19 pandemic has driven up the adoption of virtual social networking services. The company says its number of monthly active users has almost doubled to 120 million this year and that it’s seeing as much as 800,000 downloads a day.

Already, Discord is heavily funded with some $379 million in funding raised so far. The company’s investors include many well-known names such as the Chinese gaming giant Tencent and venture capital firms Index Ventures, IVP, Spark Capital, and FirstMark.

A valuation of $7 billion would be impressive for Discord and make it one of the most valuable startups ever to emerge from the virtual communications and social networking sector.

Discord as a company was co-founded by Jason Citron, a serial entrepreneur who previously founded and sold a social platform for mobile gaming named OpenFeint for over $100 million. Citron has apparently scored another big entrepreneurial win with Discord, given its current valuation of $3.5 billion that’s reportedly now about to double.

Photo: Discord CEO Jason Citron|by jontintinjordan is licensed under CC BY 2.0

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