Uber is raising another billion dollars.
The New York Times reports today that Uber is expanding its Series E round by $1 billion. Uber originally announced the round in December at $1.2 billion, but CEO Travis Kalanick said in a company blog post that there was still room in the round for additional strategic investments.
The Times notes that the total capacity for the Series E round — which includes a $600 million investment from Chinese search engine Baidu — is now up to $2.8 billion.
This comes after Uber raised $1.6 billion in convertible debt from Goldman Sachs Wealth Management last month.
In January, Kalanick noted that the Series E round would be used grow UberPool, Uber’s carpooling service, and accelerate the company’s expansion in Asia.
Uber, which is now valued at more than $40 billion, has now raised nearly $5 billion its six years of existence.
