Nextdoor raises $47M in current financing round

Social network for communities, Nextdoor, has recently announced that it has ended a funding round with $47 million, led by Mary Meeker's Bond, bringi its previously announced amount at $170 million.

In May, it was reported that the nine-year-old company had raised $123 million at a $2.1 billion post-money valuation as part of a Series F led by Riverwood Capital. Existing backers Benchmark, Tiger Global Management and Kleiner Perkins also put money in that tranche of the round, which included “new participation” from an unnamed large global asset manager.

This new financing brings Nextdoor’s total raised to $455.2 million since its inception, according to its Crunchbase profile. The company was founded by Adam Ginsburg, David Wiesen, Madison Bell, Nirav Tolia, Prakash Janakiraman, and Sarah Leary.

In a world where so many people are glued to their devices, Nextdoor is a startup that has found a way to use technology to try and help people feel a sense of community. The San Francisco-based company aims to connect people who live in the same, or nearby, neighborhoods together by creating a forum for them to communicate digitally. Its presence has grown over time and currently, people in over 247,000 neighborhoods in ten countries are using the platform. It has more than 300 employees globally.

In May, when asked about financial growth metrics, a spokeswoman only explained that Nextdoor expects “revenue to double again in 2019.” The company makes money from a combination of sponsored posts as well as a real estate vertical that allows agents to brand themselves as local experts in the neighborhood.

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