With latest cash infusion, Nextdoor closes $170M funding round

The social networking platform is free to users but real estate brokers and other home service providers can buy ads on it

Sep.September 10, 2019 04:05 PM
Bond’s Mary Meeker, Nextdoor's Sarah Friar and the Nextdoor app (Credit: iStock)

Bond’s Mary Meeker, Nextdoor’s Sarah Friar and the Nextdoor app (Credit: iStock)

A social networking platform aimed at connecting neighborhood residents has closed a $170 million funding round with its latest cash infusion.

San Francisco-based Nextdoor secured another $47 million technology investment firm Bond, the tech investment firm founded by former Kleiner Perkins partner Mary Meeker. That closes out its $170 million growth round, the company announced Tuesday.

Meeker, who raised $1.25 billion for Bond’s growth fund in April, was then named to the board of Nextdoor. The company says it’s in over 247,000 neighborhoods in 10 countries, including the United Kingdom, Germany, France and Australia.

The latest funding comes four months after Nextdoor raised $123 million from Riverwood Capital. Benchmark, Tiger Global Management and Kleiner Perkins are among other investors.

As of May, the company had a valuation of $2.1 billion. Nextdoor, which markets itself as a “private social network for your neighborhood,” allows residents to connect with each other for safety tips, events and other neighborhood functions. The service is free to users, but real estate agents and other home service providers can buy ads on the platform.

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