Unlikely, between this time and the rise of modern animals there a period called the "cryogenic" period where much or even all of the Earth was covered with extensive glaciers. The article also says that there was a temporary spike in ocean oxygen content both around the time these fossils appeared and around the time modern animals appeared. It is unlikely this sort of complex organism (if that is what it is) survived such harsh conditions. It also doesn't look like any modern group of animals. Further, if it turns out that this is an organism and it is prokaryote (i.e. bacterial or similar) in nature, then there is nothing remotely like it around today (bacteria have much of the cell-to-cell signalling mechanisms modern multicellular animals use, so such a thing is not entirely implausible). So whatever the case if it is an organism at all this was likely to be (but not certain to be) a failed early attempt at multicellular life, and not a direct ancestor to modern groups.
It also isn't really a missing link. There actually isn't much in the way of a "missing link" that is necessary, eukaryotes even today form simple specialized colonies, and fossils and trace fossils of very early organisms in many modern groups are available. There is even a supposed very early fossil of an extremely simple bilateral (two-sided) organism that would likely be the ancestor (or close relative thereof) of everything besides jellyfish and sponges.
The things we are missing are probably the first microscopic sponge-like organisms with a few poorly-differentiated cell types, so if this is a fossil of an organism it would probably be much more advanced than any "missing link" we are currently on the lookout for.
But even many modern sponges aren't that complicated, the jump from simple eukaryote colonies to the simplest sponges isn't that great. As I said, most of the signaling pathways are present even in single-cell organisms, they were simply adapted for slightly more complex interactions. The simplest sponges only have a handful of cell types on no tissues to speak of. More complicates sponges have more cells types and beginnings of what we would call tissues. Simple cnidarians (relatives of jellyfish) have more cell types and a few tissues, with more tissues, more complicated cells, and more complicated behaviors being seen in more advanced cnidarians. And the simplest worms are simpler than the most advanced cnidarians, with a pretty smooth coverage over the range of possible complexities. And that is only organisms still alive today.
Heck, slime molds, normally single-celled organisms that can clump together to form large (several inch size) mobile blobs in tough conditions, can be taught to run and remember simple mazes and carry out network optimization calculations. Even bacteria, the simplest forms of life on the planet, form complex colonies called biofilms with different cells doing specialized roles. And in both cases they use many of the same signaling molecules and pathways animals and plants do. These pathways turn out to be highly consistent across practically all life on the planet. So the line between single-celled and multi-celled is not as great as many people think.