(Reuters) - Slack said on Monday it will increase prices for its platform, the workplace messaging app's first price hike since its 2014 launch, as the company seeks to invest more in innovation.

The pricing change will go into effect as of Sept. 1, the company said in a blog, and will affect only users on Slack's Pro subscription.

Monthly Pro subscriptions will increase to $8.75 from $8 and annual Pro subscriptions will increase to $7.25 per month from $6.67, according to the company.

Slack, which allows individuals to create on-the-fly group conversations, said it will also update its free subscription plan to make it easier for users to try new features, including clips, which allow anyone to send audio and video and screen-share messages in direct messages and channel.

Slack, owned by Salesforce, has become a common online workplace messaging tool used by many companies.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Sherry Jacob-Phillips)