Pinterest has raised an additional $225 million in capital, bringing its valuation to a whopping $3.8 billion.
The pinboard photo-sharing social network scored the funds in a Series E round, led by Fidelity Investments with participation from Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital and Valiant Capital Partners.
This latest round comes on the heels of its February round of $200 million.
“We hope to be a service that everyone uses to inspire their future, whether that’s dinner tomorrow night, a vacation next summer, or a dream house someday,” CEO Ben Silbermann said in a statement. “This new investment enables us to pursue that goal even more aggressively.”
The funds will be used for international expansion, mobile, acquisitions, growing its IT infrastructure and monetization – something the startup desperately needs to support its valuation.
To date the startup has raised $564 million without any visible source of revenue. But that will soon change.