San Francisco, Feb 19 (EFE).- The ride-hailing service, Uber, has expanded its fundraising round to $1 billion to bring its capital tally to a total of $2.8 billion, the company has reported.
The San Francisco-based firm that puts riders in touch with private car owners through an application, closed a round of funding for $1.2 billion in December and raised an additional $600 million from strategic investors.
"The participation we have seen in Uber's Series E underscores the confidence investors have in Uber's growth," Nairi Hourdajian, Uber's head of global communication, said in a statement on Wednesday.
Uber has said that it intends to use part of the funds to expand its service to more cities.
It is already present in more than 277 cities in 54 countries, a big step up from the 61 cities in 21 countries a year ago.
The company, that is not listed on the stock exchange, is valued at more than $40 billion, a figure that places it on par with listed companies like Times Warner Cable, Delta Air Lines and investment services firm, Charles Schwab.
Online social networking service Facebook is the only company that has received a higher value ($50 billion) before its stock market debut.
Uber's valuation also represents a huge leap from last year when a round of funding valued the company at $3.5 billion.
No other private company has received such a high value from venture capital investors.
Airbnb, the popular lodging website which connects travelers with local hosts, file hosting service Dropbox and photo sharing company Snapchat are each valued at around $10 billion.
Despite its success, Uber is also facing several regulatory snarls in some of the cities where it operates.