Nextdoor Snags $110M for Community-Building Efforts

Nextdoor on Wednesday announced it has received $110 million in venture capital to grow its neighborhood-based network of residents and vendors. Redpoint Ventures and Insight Venture Partners led the funding round. Nextdoor plans to use the money to develop additional ways for members to benefit from the recommendations shared on the social network. Among its initiatives is extending the platform to connect neighbors with trusted local service providers and businesses, according to Nextdoor spokesperson Jennifer Burke.

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