Nextdoor Nabs $110 Million and a Billion-Dollar Valuation

Nextdoor, the social network for neighborhoods, has raised $110 million in new venture funding, according to a company blog post. The new round values Nextdoor at more than $1.1 billion.

Redpoint Ventures and Insight Venture Partners led the round, which included more than a half-dozen other new and existing backers.

Nextdoor aims to connect users with those in the same geographic area. Its user base represents more than 53,000 neighborhoods around the country, and Nextdoor is also working hard to sign up local authorities like cops and firefighters onto the network.

Since launching in late 2011, Nextdoor has nabbed $210 million in funding.

This article originally appeared on Recode.net.

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