Total amount raised
$2.1 Billions
Latest funding date
5/1/2019
Location
Nextdoor has successfully raised significant funding across multiple rounds, attracting a diverse group of investors including Shasta Ventures and Benchmark. The platform serves as a private social network, connecting neighbors to exchange helpful information, goods, and services.
Keep reading to explore the intricacies of Nextdoor's fundraising journey and the investors backing this community-driven platform.
What Is Nextdoor?
Nextdoor, founded in 2011 in San Francisco, California, is a private social networking platform designed to connect neighbors. The company was established by Adam Ginsburg, David Wiesen, Madison Bell, Nirav Tolia, Prakash Janakiraman, and Sarah Leary.
Nextdoor facilitates the exchange of helpful information, goods, and services among neighbors, aiming to foster a sense of community. The platform supports real-world connections and is active in multiple countries.
With a workforce of 501-1000 employees, Nextdoor continues to grow, providing a secure environment where neighbors can share recommendations, stay updated with local news, and support local businesses.
How Much Funding Has Nextdoor Raised?
- Round Name: Venture Round
- Amount Raised: $18.6M
- Date: July 2012
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its features.
- Round Name: Series B
- Amount Raised: $21.6M
- Date: February 2013
- Lead Investors: Greylock, Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve user engagement.
- Round Name: Venture Round
- Amount Raised: $60M
- Date: October 2013
- Lead Investors: Kleiner Perkins, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and market expansion.
- Round Name: Series D
- Amount Raised: $110M
- Date: March 2015
- Lead Investors: Insight Partners, Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand into new markets.
- Round Name: Series G
- Amount Raised: $55M
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase user base.
- Round Name: Private Equity Round
- Amount Raised: $170M
- Date: May 2019
- Lead Investors: Bond, Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and product development.
- Round Name: Equity Crowdfunding
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage the community and raise funds from a broader base.
- Round Name: Post-IPO Equity
- Amount Raised: $270M
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion post-IPO.
- Round Name: Post-IPO Equity
- Amount Raised: $18.6M
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and enhance platform features.
Nextdoor has raised a total of $724.8M. The current valuation is not publicly disclosed.
Key Investors
- Benchmark
- Details: Benchmark is a venture capital firm known for its early-stage investments in technology companies. It has a reputation for backing some of the most successful startups in Silicon Valley.
- Investment Focus Areas: Technology startups, early-stage companies, consumer internet.
- Notable Investments: Uber, Twitter, Snapchat.
- Shasta Ventures
- Details: Shasta Ventures focuses on early-stage investments in enterprise and consumer technology. The firm aims to support innovative startups with the potential for significant growth.
- Investment Focus Areas: Enterprise technology, consumer technology, SaaS.
- Notable Investments: Anaplan, Nextdoor, Smule.
- Greylock Partners
- Details: Greylock Partners specializes in early-stage venture capital, particularly in consumer and enterprise software. The firm has a long history of successful investments in the tech industry.
- Investment Focus Areas: Consumer software, enterprise software, social media.
- Notable Investments: LinkedIn, Airbnb, Facebook.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm that invests in early-stage and growth companies across various sectors. The firm is known for its influential role in the growth of Silicon Valley.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Google, Amazon, Twitter.
- Riverwood Capital
- Details: Riverwood Capital focuses on growth-stage investments in technology and tech-enabled services. The firm provides both capital and strategic support to help companies scale globally.
- Investment Focus Areas: Technology, tech-enabled services, growth-stage companies.
- Notable Investments: Globant, Alog, GoPro.
What's Next for Nextdoor?
Nextdoor's future looks promising with its ongoing international expansion, particularly into markets like Sweden and Denmark. The platform's mission to strengthen local communities and economies presents a significant opportunity, especially as it continues to grow rapidly across Europe. With $123 million in recent funding, Nextdoor is well-positioned to enhance its platform and attract more local businesses and advertisers.
Future fundraising opportunities seem likely, given the strong backing from prominent investors and the platform's growth trajectory. However, challenges such as managing rapid international expansion, maintaining user trust, and navigating different regulatory environments could pose hurdles. Despite these challenges, Nextdoor's commitment to fostering real-world connections and community building aligns well with current industry trends, setting the stage for continued success.
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