Rover, a US-based dogsitting service provider backed by pet products seller Petco, is about to close a $40m series E round that will value it at almost $300m, TechCrunch reported on Friday.
Venture capital firms Menlo Ventures, Madrona Venture Group and Foundry Group will all participate in the round as existing investors, according to sources with knowledge of the deal.
Rover operates an online marketplace for dogsitting and dogwalking that includes more than 65,000 sitters across some 10,000 cities.
The company, which reached a $100m run rate for 2016 last month, also recently introduced features to its app that allow walkers or sitters to share detailed information with dog owners.
Rover has so far raised approximately $51m since it was founded in 2011, $25m of which came in a March 2015 round led by Technology Crossover Ventures that included Petco, Foundry Group, Madrona Venture Group and Menlo Ventures.
Petco had previously taken part in a $3.5m round in 2013 and a $12m round the following year. Rover’s past investors also include VC firm CrunchFund.