Pinterest made an announcement on Monday that it had raised $367 million in new capital that has increased its valuation to $11 billion.

The bulletin-board style social network, Pinterest, said $367 million, which is approximately Rs. 2,300 crores, in primary financing was raised at a valuation of $11 billion that is approximately Rs. 69,100 crores. The company also added that it might raise around an additional $211 million that is roughly Rs. 1,325 crores.

The new funds raised will aid the global expansion plans of the company that calls itself a "visual bookmarking tool."

According to the statement, "Pinterest will use the additional capital for corporate purposes, including to fuel international expansion."

The new investment was revealed for the first time in a regulatory filing, with the investors on the deal registered as the venture capital firms Bessemer Venture Partners and Andreessen Horowitz.

The recent investment more than doubles the valuation for the company that confirmed an investment of $200 million at a $5 billion valuation in 2014.

The new deal will place Pinterest into an exclusive club of start-ups having a value of $10 billion or more, led by car-sharing giant Uber at around $41 billion.

As the company is privately held, the company reveals only limited amounts of metrics.