LandTech, the UK-based proptech company announced a 49,4 million euros Series A funding. Updata Partners, an equity firm based in the USA, led the round, while Flashpoint Secondary Fund and the existing investors JLL Spark and Pi Labs also participated.
LandTech, which was founded by Jonny Britton, an ex-town planner and Andrew Moist, a software engineer, in 2015, is an end-to-end workflow platform that unlocks land for development and provides tools that streamline the process of finding off-market opportunities and manage the work towards preparing them for construction.Its portfolio has customers such as Taylor Wimpey, CBRE, BNP Paribas, Cushman & Wakefield, JLL and Savills. Its flagship product is LandInsight that visualises and asesses opportunities for development while it has already participated in bulding over 50,000 homes in the UK.
Also, through LandEnhance and LandFund, the proptech company has simplified planning approval and development funding and its end-to-end ecosystem will offer transparency to the whole property development process, while continuously doubling its revenue over the last 5 years. At the same time it aims to grow its staff and make it double in the coming year while in 2021 it hired 50 people.
The co-founder and CEO of LandTech, Jonny Britton said that Property development is entering a digital era and LandTech offers the necessary infrastructure for this offering data-driven tools that will enhance property development industry all around the world.