WeWork, a startup that rents out office space to other startups, may soon be valued at $10 billion

WeWork, a four-year-old startup that divides up big, rented office spaces, subletting them to startups and other businesses, is raising a new round of funding that could value the company at $10 billion, Bloomberg reports.

WeWork's December 2014 Series D round of funding valued the company at $5 billion, making it among the most valuable private tech companies in the world.

In total, the company has raised $568.9 million in funding from T. Rowe Price, Benchmark Capital, and Wellington Management.

Sources familiar with the matter told Bloomberg that WeWork's new round of funding could be announced as soon as this week.

Right now, the company has 15 office spaces in New York City. WeWork also has office spaces in cities like San Francisco and Washington DC.