Nextdoor raises $47 million to continue growth

Neighborhood social network Nextdoor announced this week that it raised $47 million in new funding.

Earlier this year, the company raised $123 million at a valuation of more than $2 billion.

This latest injection of capital closes the company’s growth round of funding at $170 million.

This latest funding was completed by global technology investment firm Bond, the venture capital firm started by Kleiner Perkins‘ Mary Meeker.

There was also participation from current investors Riverwood Capital, Benchmark, Tiger Global Management and Kleiner Perkins. 

According to the company, Meeker will be joining the company’s board as part of the capital raise. 

“Nextdoor has proven itself as the leader in local connectivity. Nextdoor is built on trust – verifying each members’ name, address and neighborhood – which creates the transparency and accountability that is core to building communities,” said Meeker, general partner at Bond. “Nextdoor is connecting people to the information and services that matter most, and I am excited to work with this impressive team to help expand Nextdoor’s local utility as well as its growing global footprint.”

This funding round comes as the company continues to expand internationally and offer more to local businesses in an effort to increase Nextdoor’s adoption in neighborhoods across the world. 

This is also the second round of funding under recently named CEO, Sarah Friar, who was named CEO of Nextdoor last year

“We could not be more thrilled to welcome Bond to our family of investors. Mary Meeker has been a strong supporter of Nextdoor for many years and is deeply knowledgeable about consumer technology,” Friar said. “At Nextdoor, we believe that change starts with each of us opening our front doors and building deeper connections with the people nearest to us: our neighbors. We’re thrilled and honored to partner with all of our forward-looking investors to catalyze neighbors’ ability to connect with relevant local conversations, organizations, and businesses, engage in real world interactions, and unlock the global power of local.”

Nextdoor has recently added Antonio Silveira as its head of engineering, Tatyana Mamut, head of product, Bryan Power, head of people, and Craig Lisowski, head of data, information systems and trust.

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