LONDON, UK – We are pleased to announce Updata Partners VI’s latest investment. The fund, with participation from Limited Partner co-investors, invested £35 million to lead a £42 million Series A round into LandTech, a UK-based software and data platform for land developers. The Company aggregates data from local governments and other disparate sources to help residential and commercial developers source off-market sites and evaluate return potential for new projects. Additionally, LandTech launched new offerings to further augment the property development workflow, including products focused on planning and funding a project following site selection.
LandTech’s growth has been supported by the rapid pace of housing development in the United Kingdom. By consolidating data from numerous sources into an easy-to-use software application, LandTech is changing the previously painful data collection process and allowing developers to build more efficiently and effectively. The same problem exists in the United States, Australia, and Canada, where there are opportunities for rapid global expansion.
LandTech’s market leadership, capital efficiency, impressive unit economics, and rapid growth reflect the traits we seek in investment targets. The investment will be used to accelerate sales and marketing, advance the product roadmap, and enter new geographies.
Updata will be represented on the Company’s Board by General Partner Jon Seeber. We look forward to supporting LandTech’s continued success.
Coverage in UK Tech News can be found here