LandTech, the UK’s leading proptech platform for development site sourcing and assessing, today announced a €49.4 million Series A funding round led by US-based investment firm Updata Partners, followed by Flashpoint Secondary Fund with additional commits from existing investors JLL Spark and Pi Labs.
LandTech is an innovative proptech platform, co-founded by former town planner Jonny Britton and software engineer Andrew Moist in 2015. Its customers, which include Taylor Wimpey, CBRE, BNP Paribas, Cushman & Wakefield, JLL and Savills, can identify and evaluate off-market opportunities by having access to unique data, previously hard to compile and leverage.
The fresh capital will be used to expand LandTech internationally and grow its product offering to help customers not only identify, but also profit from new development opportunities.
LandTech’s flagship product, LandInsight, has centralised planning, ownership and policy data to open up the property market for the UK’s 10 largest housebuilders and thousands of SME property developers alike. Since its inception in 2016, LandTech’s core product offering has helped to build more than 50,000 homes in the UK.
Jonny Britton, the CEO and co-founder of LandTech stated: “As property development transitions into a digital era, LandTech’s current and future offerings serve as critical infrastructure required to manage traditionally disparate data and collaboration across the industry. Our goals are to streamline the process of unlocking the value of land with a unique ecosystem of data-driven tools that will fill a critical void in the growth of the property development industry globally.”
Having already expanded its product offering with LandEnhance and LandFund, simplifying planning approval and development funding respectively, LandTech’s ecosystem will bring transparency to the entire property development process from initial sourcing and assessing all the way through to appraisal and funding.
LandTech is creating a complete end-to-end ecosystem covering every element of property development. The young company has consistently doubled its revenue each year for the past five years, and aims to continue this rapid growth pace. To support this, LandTech is currently embarking on a major recruitment drive, with an aim to double its current staff of 130 within the next year. In 2021 alone, LandTech has already hired 50 new team members.
To learn more about LandTech, also make sure to check out the video below: