Fanatics Inc. raised $350 million in a series E funding round, bringing the sports retailer's valuation to approximately $6.2 billion, The Wall Street Journal reported, citing people familiar with the matter.

Fidelity Management & Research Co. LLC and Thrive Capital Partners Inc. led the financing round, which also attracted investments from Franklin Templeton Investments Corp., Neuberger Berman Group LLC and other investors.

The round is expected to be Fanatics' last private funding before it files for an IPO, which does not yet have a clear timeline, the unnamed sources told the publication.