The fastest growing proptech company in the UK is preparing to launch into the US market, starting in Florida.
The company plans to have a minimum viable product ready in May with a view to trading by the end of the year in line with the business plan stated when it raised £42m last year. The fundraise was led by US-based Updata Partners, followed by Flashpoint Secondary Fund, with additional capital from existing investors JLL Spark and Pi Labs.
LandTech employs 130 people in the UK, having added 50 people to its headcount last year. The UK PropTech Association named LandTech the fastest growing proptech company in the UK.
CEO Jonny Britton has spent the past three weeks in the US going to state to state to assess the prospects for LandTech. Each state has its own planning and policy regime, preventing LandTech from launching across the entire country at once.
LandTech speeds up the land-search process for property developers and their advisers. The product started as a search engine for off-site land deals, bringing publicly available data about sites together in one easy-to-use platform, accessible with a subscription. Later features include a development appraisal tool to help arrange funding for a project and a community training academy for customers. In time the company wants to build an ‘ecosystem’ of data-driven tools that complement each other.
LandTech says it works with all the top 10 biggest housebuilders in the UK as well as agents such as CBRE, BNP Paribas, Cushman & Wakefield, JLL and Savills.
The company also plans to open in Australia this year.
Meanwhile, LandTech chief revenue officer, Kimberley O’Hara, has joined office management software spaceOS.
LandTech declined to comment.