London-based award-winning proptech platform for development site sourcing and assessing, LandTech has announced that it has picked up £42 million in a Series A funding round. The investment round was led by Updata Partners, a US-based investment firm along with participation from Flashpoint Secondary Fund and existing investors Pi Labs and JLL Spark.
Global expansion plans
The proceeds from this round will be used by LandTech for its international presence. Also, the proptech company will use the investment to grow its product offering that will help customers to identify and benefit from new development opportunities.
“LandTech has achieved incredible growth with minimal funding and we’re excited to help them accelerate their international expansion and product development,” said Jon Seeber, a General Partner at Updata.
“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,” said Jonny Britton, CEO and co-founder of LandTech. “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.”
Award-winning proptech platform
LandTech was established by Jonny Britton and Andrew Moist in 2015. Its flagship product – LandInsight has centralised planning, ownership and policy data to open up the property market for the 10 largest housebuilders and thousands of SME property developers in the UK alike. This product has helped to build over 50,000 homes in the UK.. Already, its added new product offerings such as LandEnhance and LandFund to simplify planning approval and development funding.
With its products, LandTech intends to bring transparency to the entire property development process starting from initial sourcing and assessing throughout appraisal and funding.
Currently, the fast-growing proptech is on a major recruitment drive and aims to double its team 130 within 2022. Already, LandTech has hired 50 new team members this year. Its customer base includes Taylor Wimpey, CBRE, BNP Paribas, Cushman & Wakefield, JLL and Savills.