The popular chat service Discord has said that it’s raised a fresh funding round of $100 million led by the investment firm Greenoaks Capital, which was already a previous investor in the company. 

The new round brings the total amount of funding Discord has raised to nearly $500 million and is said to have doubled Discord’s valuation from $3.5 billion from a previous round now to $7 billion.

The fresh round comes in a year in which Discord has pulled in a high number of users as a Covid-19 pandemic accelerated the need for virtual communications both from computer and mobile gamers, its main area of familiarity, and broader mainstream users.

Discord initially started and rose to fame as a chat service for gamers. Now, it’s sought to appeal to users outside the field of gaming and earlier this year poached a marketing executive from the apparel company Nike to oversee its expansion beyond gaming in the role of Chief Marketing Officer.

According to a report from the Wall Street Journal, Discord expects to notch $100 million in revenue this year, more than triple the previous year’s level. It’s not surprising given that the company reports having 140 million monthly active users, double what it had last year.

Discord marks a bigger second act for its founder Jason Citron, who before founding Discord started and sold a previous social platform for mobile gamers, OpenFeint, that sold for over $100 million to the Japanese social media company GREE. 

Photo: Discord Co-Founder and CEO Jason Citron by TechCrunch is licensed under CC BY 2.0

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