Nextdoor Raises $123M Investment Round, Expands in Europe

The social networking platform that also works with local governments and public safety agencies has pulled in a lot of money for a company its age. It's using it to jump into two new European countries.

Nextdoor, the neighborhood-focused social networking platform, has raised an additional $123 million in investment money, bringing its total to more than $400 million.

The company announced the round along with a renewed push into Europe. The company — already operating in the U.S., Australia, the U.K., Germany, France, the Netherlands, Italy and Spain — is working its way into Sweden and Denmark as well.

Although its core identity is social networking, Nextdoor works with local governments by offering them communications tools to get in touch with citizens, as well as the ability to poll neighbors on issues. It is frequently used by local police departments to engage with the community and send out incident alerts.

The company’s CEO, Sarah Friar, sees Nextdoor as a way to get people more invested in the places they live.

“When communities are connected, we know they are healthier, wealthier and safer, all contributing to a thriving economy and a happy place to live,” she wrote in a blog post announcing the funding round.

Nextdoor has not only pulled in more money in one round than most, but it has also now gone through more investment rounds than most companies as well. Crunchbase has identified six separate non-seed rounds for Nextdoor since 2012; the public safety tech startup Mark43 has had three such rounds since its founding that same year.

Ben Miller is the associate editor of data and business for Government Technology. His reporting experience includes breaking news, business, community features and technical subjects. He holds a Bachelor’s degree in journalism from the Reynolds School of Journalism at the University of Nevada, Reno, and lives in Sacramento, Calif.