Neighborhood social network provider Nextdoor has raised another $110 million in funding.
In a company blog post today, Nextdoor co-founder and CEO Nirav Tolia announced the new round, simply stating, “This investment will enable us to accelerate our efforts in the years ahead. Every year at Nextdoor has been better than the last, and we are just getting started.”
Investors this round were led by Redpoint Ventures and Insight Venture Partners. The funding values the four-year-old company at roughly $1.1 billion, putting it into what some VC-watchers call “unicorn valuation” territory. To date, Nextdoor has raised about $210 million. Rich Barton, co-founder of Zillow, serves on Nextdoor’s board of directors.
In addition to the funding news, Tolia said the San Francisco-based startup has reached the “significant milestone” of being used in 53,000 neighborhoods, representing more than 35% of all U.S. neighborhoods.
Nextdoor bills itself as the free and private social network for neighborhoods, allowing people to create private websites for neighborhood resources, initiatives and events. It also has partnered with city governments, include the City of Seattle, for sharing official municipal information with Nextdoor neighborhood websites.