Nextdoor, the social network for neighborhoods, raises $123M

“Local” social networking site Nextdoor, which aims to bring together people who live in the same neighborhood, has just raised $123 million in a funding round led by Riverwood capital.

Benchmark, Tiger Global Management, Kleiner Perkins, and an undisclosed “large global asset manager” also participated in the round, which brings Nextdoor’s total funding to more than $400 million and values the company at $2.1 billion. Previously, Nextdoor was valued at just $1.5 billion following a $70 million funding round in 2017.

San Francisco-based Nextdoor was founded back in 2010, and is similar to Facebook in many respects, though it focuses specifically on connecting people who live in the same local areas. Facebook caters to these scenarios to a certain extent with its Group pages, but Nextdoor’s laser-sharp focus has won plenty of users, helping it to grow beyond the U.S. to countries including Australia, Denmark, France, Italy, Germany, the Netherlands, Spain and the UK.

The company doesn’t divulge numbers, but claims that 236,000 neighborhoods across the world now connect via its platform.

“Around the world, there is a universal yearning for the connectedness of proximity,” said Nextdoor’s chief executive officer Sarah Friar. “Neighbors everywhere still love and care about belonging and contributing to a tangible, real place, as evidenced by Nextdoor’s continued growth and expansion throughout the U.S., Europe, and Australia.”

With the new funds, Nextdoor said it plans to recruit more staff to fuel its expansion, in order to cement itself as the “essential local platform for neighbors around the globe.”

The plan calls for greater expansion in Europe especially, where Nextdoor says its growing at a rate of 300%.

Riverwood Capital cofounder and partner Chris Varelas will also join Nextdoor’s board of directors as a result of the investment.

“We believe Nextdoor represents the future of local community and commerce — this investment reflects our collective belief in the power and opportunity in this space and the Nextdoor team,” Varelas said.

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at

Recent Posts

3 Ways to Improve the Lending Process for Home Buyers

Buying a house is a transaction that’s often shrouded in mystery, with surprises at every…

2 hours ago

Can My Sister Get More Than Her Half of an Inherited House?

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have…

2 hours ago

How Can I Make Free Money — 4 Easy Ways To Earn In The Time Of Inflation

Nowadays, everybody needs more money than they’re currently earning. Thanks to the peaks in inflation…

19 hours ago

Can You Avoid Capital Gains On the Sale of a Second Home?

You may plan on investing in a second home for personal or financial reasons. You…

1 day ago

What is a Realtor®?

Realtors and Real Estate Agents Are Not The Same When you are to entering the…

2 days ago

Engel & Völkers Launches Dedicated Professional Athlete Advisory Group

Engel & Völkers announced today the launch of its Professional Athlete Advisory Group with the…

2 days ago