Pet Circle looking to raise up to 250 mio dollars

The Australian online pet store Pet Circle is looking to raise 200 to 250 mio dollars in its Series C round, at a 1-bn-dollar valuation. This is reported by the online industry magazine Pet Industry News.
The Australian Financial Review (AFR) reported that 100 mio dollars is expected to come from an Australian fund and another 100 mio from a US investor.
The 1-bn-dollar valuation would value the business, founded by Michael Frizell and James Edwards, at about three times its revenue.