Pinterest raises a whopping $225M, bringing total funding to more than $0.5B

Pinterest has confirmed an AllThingsD report that it has raised a $225-million Series E round of funding led by Fidelity Investments, with previous investors including Andreessen Horowitz, FirstMark Capital, Valiant Capital and Bessemer Venture Partners chipping in as well. The investment comes at a $3.8-billion valuation, and the total amount of money raised by Pinterest is now around — brace yourself — $538 million. Pinterest recently started to experiment with ads, or promoted pins, as the company calls them – but so far it isn’t charging brands any money for these experiments.