Nextdoor, the neighborhood social networking site, raised about $75 million in a funding round, The Information reported, estimating that the valuation is $1.5 billion. The round was confirmed by TechCrunch.
The report says that the funding comes from undisclosed new investors. Benchmark, Greylock Partners, Kleiner Perkins and Insight Venture Partners led the rounds previously.
Nextdoor has not responded for comment, but the new capital will likely help the business expand to more communities. Earlier, CEO Nirav Tolia told TechCrunch that the service was being used in 160,000 neighborhoods in the U.S., the U.K. and the Netherlands.
Recently, he told TC told that he’d like the platform to be in 85 percent of U.S. neighborhoods by the end of this year. He also said that he’d like to continue its international expansion in Germany, India, Japan and Brazil.
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