The race is on. Lyft, the pink-mustache-wearing, ride-sharing service that competes with Uber, is raising a $150 million round of funding.
The Series D round was revealed in a filing discovered Saturday by Re/code. Lyft had previously raised a total of $82 million.
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The company has closed $80 million of that funding round, according to Re/code and The Wall Street Journal, with plans to raise another $70 million.
Both publications report that Lyft is now valued at $700 million. Reps for Lyft did not immediately respond to our request for comment.
The latest funding round, which had been rumored earlier in the year, comes a little more than six months after Uber raised a $258 million round at a reported $3.5 billion valuation.