UK-based land development software provider LandTech has secured £42m ($57.2m) in a series A round featuring real estate services firm JLL’s corporate venturing arm, JLL Spark, the Evening Standard has reported.
Investment firm Updata Partners led the round and was also joined by Flashpoint Secondary Fund and Pi Labs.
LandTech’s platform gives customers access to data that helps identify and evaluate off-market property opportunities. Its LandInsight, LandEnhance and LandFund tools help find, plan and fund new developments respectively.
The funding will be used to expand the company’s product offering and geographical footprint. It also plans to double its headcount to 260 over the next year.
JLL Spark invested a seven-figure sterling amount in LandTech in January 2020, following approximately $550,000 from Seedcamp, Pi Labs and angel investors Simon Murdoch, Damien Lane and Paul Higgs in 2015, when the company was still known as LandInsight.
