Street Group secures £3.3m to revolutionize PropTech with AI
Deal News | Nov 20, 2024 | Business Cloud
Street Group, a Manchester-based PropTech startup, is embracing its first external funding after nearly a decade of self-funding. Founded by siblings Tom and Heather Staff, the company has successfully scaled to a workforce of 146 and offers two primary software products, Spectre and Street.co.uk, which aim to streamline processes for estate agencies. The company secured £3.3 million from Praetura Ventures, marking a significant milestone in its growth. This funding will be used to accelerate product development, expand the team, and incorporate advanced AI capabilities into their offerings. Praetura Ventures' investment is driven by its belief in technology-driven innovation, with investment director Peter Carway joining Street Group's board. The partnership signifies a pivotal move for Street Group as it aims to enhance its agent-centric approach and cement its place in the PropTech industry.
Sectors
- PropTech
- Venture Capital
Geography
- United Kingdom – Street Group is based in Manchester, UK, and is expanding its reach in the local, regional, and national estate markets with the support of UK-based Praetura Ventures.
Industry
- PropTech – The article discusses Street Group, a company providing technological solutions for the real estate market, making advancements in AI to innovate estate agency processes.
- Venture Capital – Praetura Ventures is involved as a venture capital firm providing funding to Street Group, aiding in its expansion and technological development.
Financials
- 3.3 million – External funding raised by Street Group from Praetura Ventures to drive product development and expand operations.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Street Group | Target Company | Company | A Manchester-based PropTech company specializing in software solutions for estate agents, founded by Tom and Heather Staff. |
| Praetura Ventures | Investing Company | Company | A venture capital firm providing growth funding to innovative companies, using funds such as Praetura EIS Growth Fund and Praetura Growth VCT. |
| Tom Staff | Co-Founder | Person | Co-founder of Street Group, involved in creating innovative solutions for the PropTech sector. |
| Heather Staff | Co-Founder | Person | Co-founder of Street Group, instrumental in evolving the company's estate agency software offerings. |
| Peter Carway | Investment Director, Board Member | Person | Investment Director at Praetura Ventures, joining the board of Street Group as part of the investment deal. |