Snapchat is on its way to proving that self-destructing messages are a business that won't disappear.
Snapchat announced Monday that it has closed a Series B round of funding from IVP, General Catalyst, Benchmark Capital and others to "continue scaling" the company.
AllThingsD reports that the company raised $60 million at a valuation of $800 million. In total, that Snapchat has raised $75 million to date.
Snapchat did not immediately respond to our request for comment.
IVP, which led the round, said it normally invests in businesses with $20-$100 million in revenue, but made an exception for Snapchat, which has yet to start monetizing. The firm highlighted Snapchat's valuable young demographic, the fact that it's mobile-first and a belief in the founder's vision for growing the business as reasons to invest.
"They have a vision for building Snapchat into a core utility that sits atop the home screens of billions of mobile devices," wrote Dennis Phelps, general partner at IVP. "We believe it could grow into one of the most successful consumer applications to date."
In a blog post, Snapchat revealed that its users now share 200 million "snaps" or picture messages every day -- an impressive feat considering the app launched less than two years ago.
Snapchat's success is all the more impressive given that Facebook tried to kill it last year with a nearly identical app of its own called Poke. Clearly, Snapchat won that battle.