According to Business Insider, Slack, an app that lets you chat with coworkers, has raised $120 million in capital, making it worth $1.12 billion. The round was co-led by Kleiner Perkins Caufield & Byers and Google Ventures, and previous investors such as Andreessen Horowitz, Accel Partners, and the Social+Capital Partnership also participated.

Slack is a platform for team communication: everything in one place, instantly searchable, available wherever you go. Slack is free to use for as long as you want and with an unlimited number of people.