Pinterest’s latest round of funding closes in at $553 million

Pinterest has completed the rest of its Series G funding round, raising an additional $186 million for a total of $553 million. It had previously raised $367 million of that offering, according to a March SEC filing. Pinterest* told Re/code that the round included new investors Wellington Management Company and Goldman Sachs along with participation from existing investors Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital, SV Angel, Valiant Capital Management and Fidelity Investments. Along with the funding news, the company said that it would be doing a secondary offering for employees whose options had vested by April 30th. They will able to sell “a small portion” of their stock to undisclosed external investors at the $11 billion Series G valuation. There won’t be any new shares issued, so this won’t dilute the existing stock. The company wouldn’t disclose what percentage of Pinterest’s equity this could represent if all employees sold the amount they’re allowed to. This is the second time Pinterest has allowed employees to sell their shares, the first being in October 2012.