More than 35% of U.S. Neighborhoods Now Rely on Nextdoor to Create Stronger Local Communities
San Francisco, CA, March 4, 2015 – Nextdoor (nextdoor.com), the free and private social network for neighborhoods, today announced that it has secured $110 million in funding, led by new investors Redpoint Ventures and Insight Venture Partners. This round of funding also included new investors Meritech and Coatue, as well as participation from existing investors: Benchmark, Greylock Partners, Tiger Global Management, Kleiner Perkins Caufield & Byers, Comcast Ventures, and Shasta Ventures.
“Nextdoor’s progress to date is striking, but they are just getting started,” said Satish Dharmaraj, partner at Redpoint Ventures. “We strongly believe that Nextdoor will become the definitive social network for everything related to your local life.”
Since launching in October 2011, over 53,000 neighborhoods have adopted Nextdoor, representing more than 35 percent of neighborhoods across the United States. During that time, all key metrics have grown substantially. Some notable milestones include:
- 85 percent of neighborhoods in the top 40 cities by population have adopted Nextdoor
- 63 percent of Nextdoor neighbors engage with the product at least once a week
- 647 local agencies in 508 cities have partnered with Nextdoor to communicate relevant information to residents
“Nextdoor has become an essential resource for more than a third of all neighborhoods across the U.S.,” said Deven Parekh, Managing Director at Insight Venture Partners. “The company has enormous potential and we are thrilled to lead this round of financing.”
“We founded Nextdoor with an ambitious mission: to use the power of technology to build stronger and safer neighborhoods everywhere,” said Nirav Tolia, Co-Founder and CEO of Nextdoor. “The response from our members has been incredible. People truly want to bring back a sense of community to the neighborhood and we’re humbled to be a part of it.”
With this new round of funding, Nextdoor has raised a total of $210 million in four separate rounds. The company plans to use the latest funding to continue to invest in building the best product for its members.
About Nextdoor.com, Inc.
Nextdoor (nextdoor.com) is the free and private social network for neighborhoods. Using Nextdoor’s platform, available on the Web and mobile devices, neighbors create private neighborhood websites where they get to know one another, ask questions, exchange local advice and recommendations, and organize virtual neighborhood watches to reduce crime. More than 53,000 neighborhoods across the country are using Nextdoor to build happier and safer places to call home.
Headquartered in San Francisco, Calif., Nextdoor is a privately-held company with the backing of prominent investors, including Benchmark, Greylock Partners, Tiger Global Management, Kleiner Perkins Caufield & Byers, Redpoint Ventures, Insight Venture Partners, Shasta Ventures, Meritech, Coatue, and Comcast Ventures.
For additional information and company images: nextdoor.com/newsroom