Uber Technologies Inc. has completed the next stage of its funding war chest.

The mobile car-booking company said today it has raised $1.2 billion in new financing at a $40 billion valuation, more than double the $17 billion that it was valued at in June and bolstering its rank as the most highly valued U.S. technology startup.

Uber, based in San Francisco, declined to say which investors participated in the financing. Bloomberg News reported last month that T. Rowe Price Group Inc. was in talks to become a new investor, with existing investor Fidelity Investments also set to be involved.

An Uber representative confirmed the $40 billion valuation. A T. Rowe Price spokeswoman declined to comment and a Fidelity representative didn’t immediately have a comment.

Uber Chief Executive Officer Travis Kalanick said the company is in a “tremendous growth” period, set to generate more than 1 million jobs worldwide in 2015.

“This kind of continued growth requires investment,” he wrote in a blog post. “This financing will allow Uber to make substantial investments, particularly in the Asia Pacific region.”

The financing puts Uber in a league of its own among fast- growing U.S. technology startups, as well as publicly traded transportation companies. The company is now valued at four times many other elite Silicon Valley startups, such as Airbnb Inc. Uber is also valued at more than Tesla Motors Inc., which has a market capitalization of $29 billion. General Motors Co., the largest U.S. automaker, has a $53.6 billion market capitalization.

Convertible Debt

Uber is also building out its finances with a more than $1 billion convertible debt sale to Goldman Sachs Group Inc.’s wealth management clients. The clients are getting a chance to buy a six-year bond in Uber that will convert into equity at a 20 percent to 30 percent discount to the company’s valuation at the time of an initial public offering, said people with knowledge of the matter, who asked not to be identified because the details are private.

Goldman Sachs isn’t investing its own money in the debt, said the people. The convertible bond carries a coupon that increases over time if Uber hasn’t gone public within 4 years, said the people.

–With assistance from Michael J. Moore in New York.

To contact the reporter on this story: Serena Saitto in New York at ssaitto@bloomberg.net. To contact the editors responsible for this story: Pui-Wing Tam at ptam13@bloomberg.net.

Tags: sharing, uber
Photo Credit: Uber CEO Travis Kalanick at Le Web in Paris, France. Flickr