The round, first reported by The Information, is easily one of the largest private investments in a gov tech company this year. In addition to serving as a social media site, Nextdoor has community engagement, law enforcement and polling functions for local governments to use.
The company claims users in more than 160,000 neighborhoods across the U.S., and is working internationally as well. It has been on the GovTech 100 list for each of the list’s first two years.
According to The Information, the round appears to have Nextdoor valued at about $1.5 billion — up from $1.1 billion in 2015. An extra $75 million would put the company’s total fundraising at more than $285 million since the company launched in 2010. Its backers in the past have included Kleiner Perkins Caulfield & Byers, Greylock Partners and Benchmark.
