(Bloomberg) -- Pinterest Inc. raised $367 million from investors and might get $211 million more in funding, the online scrapbooking startup said in a regulatory filing Monday.

Pinterest is taking investments that value the startup at $11 billion, the company said, more than doubling Pinterest’s value from $5 billion last May. New and existing investors are participating in the financing round, the company said.

Pinterest has been working to build out its advertising model, through which brands can pay to promote their posts. The company is also investing to expand internationally and improve its product.

The number of international users on Pinterest more than doubled in 2014 and now make up more than 40 percent of all users, up from 28 percent in 2013, Barry Schnitt, a spokesman for the San Francisco-based company, said.

To contact the reporter on this story: Sarah Frier in San Francisco at sfrier1@bloomberg.net To contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net Reed Stevenson, Andrew Pollack