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Corporate messaging tool Slack announced today that it has closed a $120 million round led by Google Ventures and Kleiner Perkins.

The new round values the company at $1.12 billion, post funding — a massive valuation for an eight-month-old company. Slack was quick to point this out in its press release: “Having just launched in February, this milestone marks Slack as the fastest growing SaaS company ever.”

The company reports that it now has “30,000+ active teams using Slack.” It also told VentureBeat that it now has 268,000 daily active users and that its active user base is growing by 3 to 5 percent a week.

This news follows a recent Slack privacy snafu, in which a “feature” led the service to reveal the internal team names of companies like Google, Apple, and more to the public. Clearly, Slack has rebounded quickly and now expects itself to become “the fastest-ever SaaS company to reach $10 million” in annual recurring revenue.

Slack has raised a total of $180 million to date. It is based in San Francisco.


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