Townsquared Raises $5.3M & Plans Expansion Across the Country

Townsquared, a Nextdoor-like platform for local business owners to connect and share resources has recently raised $5.26 million from Floodgate and August Capital. The news came along with the launch of iOS app earlier this week.

Currently, it’s  available in New York City and San Francisco only, but they have plans to expand across the rest of the US eventually. So, the money will mainly go into expansion.

townsquared-raises-5-3m-plans-expansion-across-the-country

Townsquared lets the local retailers and businesses share advice, organize local events and send crime and safety alerts in real-time to each other. The live feed on site show the users updates from nearby businesses, topic channels for discussing specific problems, and member listings to get to know other local business owners. There is also a resources section on how to manage permits and licensing or seek loans and funding.

Ann Miura Ko from Floodgate says that there’s this whole economy of people and businesses that significantly impact the way our economy works. I know very viscerally how much of an impact these small businesses have not only in our neighborhoods, but on our GDP.

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