Jason Citron. Photo by Kimberly White/Getty Images for TechCrunch, under Creative Commons license

Popular chat app Discord has raised $100 million in new funding at a valuation of $3.5 billion, as first reported by Forbes. The fundraise coincides with Discord’s plan to pivot away from a gaming-centric chat app into day-to-day communication. Discord aims to be a go-to solution for online communication in general rather than focus on games which it traces its roots to. That potentially puts it in competition with the likes of Slack, Monday.com, and Microsoft Teams. Discord says it currently has more than 100 million monthly active users.

With this new funding, Discord has now raised about $380 million in total funding since its inception. The new funding came from venture capital firm Index Ventures, an existing investor in the company. Before this funding, Discord was valued at $2 billion by investors.

Index Ventures partner Danny Rimer is notably the driving force behind the new investment, with Discord being a plus to his sizeable list of notable bets which include design startup Figma, cosmetics startup Glossier, and Patreon. Rimmer also helped clinch successful exits including Farfetch, Etsy, and Dropbox for Index Ventures.

According to Forbes, Discord is on track to generate $120 million in revenue this year, up from $70 million in 2019.