The money will be used to support the roll out of LandTech’s second product, LandEnhance, aimed more at town planners than LandInsight, which is more for land buyers.
The investment will also be used to further the company’s international expansion plans.
Tanguy Quéro, JLL Spark’s growth lead for EMEA, said: “LandTech greatly simplifies site sourcing and research planning for property developers and has become the fastest-growing proptech company in the UK.
“After careful research by our UK JLL residential team, including using its flagship solution, LandInsight, we believe there is significant market potential for the company and are pleased to make this investment.”
LandEnhance provides access to digitised planning policy and essential local data to streamline research and appraisals – resulting in increased approval ratings and significant time savings, the company said.
JLL Spark is well known for discovering and investing in disruptive, forward-thinking technology companies transforming the real estate industry. LandTech proved to be a match for its reputation of simplifying the entire property development process for planners, architects and developers.
LandTech launched its flagship site-sourcing platform LandInsight in 2015, which combines millions of data points to help property developers find and assess off-market development opportunities.
JLL launched its $100m venture fund in June 2018. Start-ups to secure backing so far include Hubble, the flexible office renting platform; Honest Buildings, a project management system for construction; and HqO, the tenant engagement app.
LandInsight is used by 1,500 small developers and nine of the UK’s top 10 housebuilders. In 2019 alone, over 640,000 sites were found using the software.
Jonny Britton, LandTech’s co-founder and CEO, said: “Having access to JLL’s global reach and client network will be a game-changer as we begin to scale internationally, and we’re incredibly excited to take the next step in LandTech’s development together.”