How do you highlight a field based on text value?

I have a table with requests for an Audit. I have a column with QB Status as the title and the field either says Open, In Progress, or Closed. 

I want Open to be highlighted in a light green, In Progress to be highlighted in a light yellow, and Closed to be highlighted in a light red. I have tried some formulas but I am very new to QB so I have not had much experience with syntax errors. 

Here is an example of a formula I tried:

If([QB Status]="Open", "<div style=\"background-color:green;\"> Open</div>", [QB Status] )

Can someone please help me with a formula? Thanks!