Nextdoor reportedly closes $75M in funding

The neighborhood-focused social network continues its ascent, despite accusations of racism from users

Nextdoor, a social network specifically designed to connect neighbors that serves 100,000 U.S. neighborhoods and counting, has reportedly raised $75 million in a recent funding round, according to an article published today by subscription tech news website The Information.

That would bring the company’s total funding to over $285 million. It’s unclear where the new cash infusion would put Nextdoor’s valuation, which currently stands at more than $1 billion.

Using Nextdoor, neighbors can virtually — and privately — convene with the effort of a few key strokes, to discuss everything from local roofer recommendations to lost pets, and it has become a popular place for real estate agents to communicate with and add value to their communities.

In July, Nextdoor rolled out a listing search tool, allowing real estate agents to buy ads on the site in a handful of markets.

However, the website has been condemned for incidents of racial profiling and racism by its users. It has taken some concrete steps to try and reduce these expressions on its platform, but this type of conduct remains a problem. Such incidents don’t appear to be slowing down enthusiasm from investors, however …

This story is developing; Inman has reached out to Nextdoor for further details.