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Slack Technologies is the latest startup to join the billion-dollar valuation club.

Slack, a startup that builds tools for employees to communicate and collaborate in the workplace, announced Friday that it has raised $120 million in funding at a $1.12 billion valuation. The significant valuation and funding round, which was led by Kleiner Perkins and Google Ventures, is all the more notable considering the startup launched publicly less than a year ago.

Image: SLACK