Pinterest has secured $200m in a new round of funding, raising its valuation to $2.5bn, up from $1.5bn. The company plans toimprove its service and expand the site’s community globally.
Existing investors, Bessemer Venture Partners, Andreessen Horowitz, and FirstMark Capital participated in the latest round of funding, alongside Valiant Capital Management, who led the round.
Pinterest CEO, Ben Silbermann, said: "Our focus is on helping millions of people discover things they love and get inspiration to go do those things in their life."
"This investment gives us more resources to help realize that vision," Silbermann said.
Last month, Pinterest received $30m from SV Angel, which will be put towards buying secondary shares in the company.
In May 2012, Pinterest raised $100m in funding from Japanese eCommerce giant, Rakuten, which pushed the company’s valuation at $1.5bn.
The site’s number of global visits reached 48 million during 2012.
Currently employing 100, the scrapbooking firm is planning to introduce new data-analytics tools that allow firms to tracktheir Pinterest traffic and find users who interact based on their content.