Nextdoor, a neighborhood-focused social networking app has just secured a Fresh Funding Round of a $123M in "Series F". The funding was led by Riverwood Capital as well as their existing investors Benchmark, Tiger Global Management, Kleiner Perkins Caufield & Byers.
Nextdoor was co-founded by Sarah Leary, Nirav Tolia, Prakash Janakiraman and David Wiesen in 2008. The company had previously raised a total of $285.2M in funding, early investors included Benchmark Capital, Shasta Ventures, Rich Barton, Silicon Valley angels, Benchmark, Greylock Partners, Kleiner Perkins Caufield & Byers, Tiger Global Management. This new funding placed them to a total of $408.2M in funding, valuation soar to $2.1B up from it's previous $1.5B.
Today, Nextdoor is used around the world across the United States, United Kingdom, France, Germany, the Netherlands, Italy, Spain, and Australia. It also exchanges services with government agencies such as the California Secretary of State's office and the District of Columbia Board of Elections. These public agencies collect and present voter-education information, such as voting locations and voter registration deadlines. This is offered as a link in the Nextdoor platform for members in those neighborhoods.
The platform reports increased activity during disasters. In May 2017, the company offered its services to the Federal Emergency Management Agency to facilitate the delivery of geo-targeted "emergency and disaster preparedness" alerts through the platform. A National Oceanic and Atmospheric Administration partnership allows Nextdoor to send out local-community alerts during extreme weather incidents.
Nextdoor introduced advertising to the platform, including real estate advertising, in 2017. Advertising includes posts inside user's feeds about business services and products.
In February 2017, Nextdoor acquired the UK local social network service Streetlife in a "multimillion pound deal". The service became available in the Netherlands in February 2016, in Germany in 2017, and in France in February 2018. Nextdoor also launched in Italy and Spain during September 2018.