Note-taking startup Evernote has raised a massive new $100 million round at a $1 billion valuation, according to a report by Business Insider.

The new round was reportedly led by Meritech Capital Partners. A contrary report from TechCrunch says the deal is not yet complete, but it suggests the round and valuation numbers are about right.

Evernote surpassed 20 million users last December. It made our list of “10 disruptive cloud companies we’re excited about” because the company has taken to solving the simple problem of effective note-taking in an innovative, cloud-based fashion. The company allows users to sync notes across mobile devices and the desktop.

Prior to this round Mountain View-based Evernote had raised $95.5 million in funding. Its last round was for $50 million last July and was led by Sequoia Capital with participation from Morgenthaler Ventures.

Evernote business development head Brian Caldwell declined to comment on the report. Meritech did not immediately respond to a request for comment.