Social networking platform for neighbors Nextdoor today announced it has secured additional funding to close out its $170 million growth round. The new financing includes the $123 million Nextdoor raised in May from new investor Riverwood Capital along with existing investors Benchmark, Tiger Global Management and Kleiner Perkins. The additional funding announced today comes from Mary Meeker’s tech investment firm, Bond.
As a result of the new investment, Meeker will join Nextdoor’s board.
Meeker had left Kleiner Perkins last year, where she was well-known for her popular Internet Trends Report, released annually. She has since founded Bond, taking Kleiner’s entire former growth team with her, where they’re all now equal partners. Bond raised $1.25 billion for its debut growth fund. Its other partners include Juliet de Baubigny, Mood Rowghani, and Noah Knauf.
As of the May 2019 round, Nextdoor was valued at $2.1 billion for its neighborhood-level networking platform, which today generates revenue from sponsored posts and its real estate vertical for local agents. The company had said it was on track to double its revenue in 2019.
We understand the valuation remains at $2.1 billion, even with the additional funding.
Since its …read more
Thank you Source: Social – TEch crunch