LandTech, the London-based proptech enabling property developers of all sizes to identify and assess off-market development opportunities, has expanded to the United States, to help the country deal with its housing shortage of four million homes per year.
Utilized by the U.K.’s top 10 housebuilders and more than 2,000 property industry clients from architects, planners, government, local councils, commercial, power and residential developers, LandTech has opened its first office in Florida with its stateside team covering the span of the state from Gainesville to Miami. The platform’s full product suite already covers the entirety of Florida, with additional states soon to be announced.
“Our arrival in the US is no coincidence, especially with the supply of new homes shrinking 30 per cent in 2020 alone, and the countrywide housing shortage of four million new homes needed for the next five years,” said Jonny Britton, LandTech co-founder. “Our mission is much greater than proprietary software, it’s about enabling a true sense of place, which technology cannot solve alone.”
The company has brought together the largest and most varied raft of developers in the industry, all under one platform, Britton continued.
“Practically, this means developers are able to network together and promote deals, share best practice, while discussing key industry issues from all perspectives — whether it be looking for staff or analyzing the heavily misunderstood green belt,” he said. “Corporate development teams are able to forge partnerships while at the same time include the concerns and interests of local citizens; all parties must have a seat and a say at the table. Our deep research and analysis are constantly unlocking insights about places many hadn’t considered because of their siloed interests.”
A frustrated twitter conversation in 2013 connected founding entrepreneurs Jonny Britton (former Newcastle-based town planner) and Andrew Moist, a software engineer from London. Moist, a novice to property development, was frustrated by having no insights to help him develop a self-build property in Shoreditch. Britton answered to his call and the two formed LandTech in 2014.
Florida is just the beginning, Britton said. The company plans to create a suite of data-driven tools that enable real estate stakeholders across the US to build needed communities. With more than 60,000 U.K. houses having been built using LandTech, the U.K. platform now also enables developers to appraise potential development opportunities and secure funding.
Having secured more than £42 million of series A funding in late 2021 from Washington DC-based UpData Partners and JLL Spark, LandTech has further secured an additional £10 million in growth capital from Canada’s CIBC Innovation Banking, making it one of the largest recipients of backing and funding from North America into a U.K. proptech.
