Burda Principal Investments, the corporate venturing arm of media group Hubert Burda, has led a €16m ($19.9m) series A round for Germany-based social media platform Nebenan.
Deutsche Tele Medien, the listings subsidiary of telecommunications firm Deutsche Telekom, also took part in the round, as did media companies NWZ and Mediengruppe Pressedruck, the latter through its PD Ventures unit, and venture capital firm Lakestar.
Nebenan has created a social network centred on local neighbourhoods, similar to the one operated by US-based NextDoor. It has a total of more than 800,000 registered users across more than 6,000 neighbourhoods.
The company also owns a France-based subsidiary called Mesvoisins and plans to expand further into Europe, it said in a statement.
Burda Principal Investments had previously provided approximately $5.3m in funding for Nebenan in January 2017, six months after it initially launched its platform.