Nextdoor, the US-based operator of a social network that links users by their neighbourhoods, raised $110m yesterday in a series D round featuring Comcast Ventures, a subsidiary of cable service provider Comcast.
Redpoint Ventures and Insight Venture Partners led the round, which also included Meritech Capital Partners, Coatue Management, Benchmark, Greylock Partners, Tiger Global Management, Kleiner Perkins Caufield & Byers (KPCB) and Shasta Ventures.
The round was raised at a $1.1bn valuation, Nextdoor confirmed to TechCrunch. It made Nextdoor the second private company to reach unicorn status this week, after fashion e-commerce platform Farfetch.
Nextdoor’s network, launched in late 2011, has grown to encompass more than 53,000 neighbourhoods, and the company claims 85% of neighbourhoods in the 40 most populous cities in the US have joined. It did not disclose plans this week to expand internationally.
The round brought Nextdoor’s overall funding to about $210m, including $60m received in a 2013 series C round backed by Comcast Ventures, Tiger Global, KPCB, Benchmark, Greylock Partners and Shasta Ventures.
Google Ventures, internet company Google’s corporate venturing arm, is also an investor, having participated in a $21.6m series B round in 2013, as are DAG Ventures, Pinnacle Ventures, Allen & Company and Bezos Expeditions.
Nirav Tolia, co-founder and chief executive of Nextdoor, said: “We founded Nextdoor with an ambitious mission: to use the power of technology to build stronger and safer neighbourhoods everywhere.
“The response from our members has been incredible. People truly want to bring back a sense of community to the neighbourhood and we are humbled to be a part of it.”