Street Group Secures £3.3M Funding from Praetura Ventures to Drive AI-Driven Innovation in Estate Agency Software
Deal News | Dec 11, 2024 | praetura ventures
Manchester-based tech start-up Street Group has raised £3.3 million in funding from Praetura Ventures, including investments from the Northern Powerhouse Investment Fund II (NPIF II) managed by Praetura. Street Group, founded by siblings Tom and Heather Staff in 2015, specializes in AI-driven software solutions for estate agents, offering products like Spectre and Street.co.uk to enhance marketing efficiency and customer service. This new funding will assist in accelerating product development, expanding their team, and driving additional industry innovations. With over 4,000 estate agents already using their products, they plan to advance AI functionalities further. The investment from Praetura Ventures, whose investment director Peter Carway joins Street Group’s board, marks a significant endorsement of the company's innovative efforts. The Northern Powerhouse Investment Fund II aims to boost economic growth in the North of England by supporting small and medium enterprises with early-stage financing.
Sectors
- Real Estate Technology
- Private Equity and Venture Capital
Geography
- United Kingdom – Street Group is based in Manchester, UK, and both Praetura Ventures and the Northern Powerhouse Investment Fund II, which is involved in funding, operate within the UK, focusing on the Northern region.
- Northern England – The Northern Powerhouse Investment Fund II focuses on this region, aiming to foster economic growth and innovation among SMEs.
Industry
- Real Estate Technology – Street Group operates within this industry by providing software solutions that streamline processes for estate agents, leveraging AI to enhance efficiency and user experience.
- Private Equity and Venture Capital – Praetura Ventures operates within this sector as it provides funding and resources to early-stage companies like Street Group as part of its investment strategy.
Financials
- £3.3 million – The amount raised by Street Group from Praetura Ventures including investments from NPIF II.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Street Group | Target Company | Company | A Manchester-based tech start-up providing AI-driven software solutions for estate agents. |
| Praetura Ventures | Investor | Company | A private equity firm providing funding and support to early-stage businesses like Street Group. |
| Northern Powerhouse Investment Fund II | Funding Source | Company | A fund aimed at providing finance to innovative companies in Northern England. |
| Tom Staff | Co-Founder | Person | Co-founder of Street Group. |
| Heather Staff | Co-Founder | Person | Co-founder of Street Group. |
| Peter Carway | Investment Director and Board Member | Person | Investment Director at Praetura Ventures who joined Street Group's board as part of the funding deal. |
| British Business Bank | Supporter of Northern Powerhouse Investment Fund | Company | Supports the Northern Powerhouse Investment Fund which invests in businesses like Street Group. |