Street Group is taking on its first external funding after scaling to 146 staff less than a decade after launch.
The Manchester tech startup, which specialises in software solutions for estate agents, is poised to capitalise on AI advancements after raising 拢3.3 million.
Founded in 2015 by brother and sister, Tom and Heather Staff, the PropTech provides two major product offerings called Spectre and Street.co.uk: software designed to help estate agencies more efficiently generate leads, win new business and provide exceptional customer service.
Street Group currently supports over 4,000 local, regional and national agents, and is planning to use the funding to accelerate product development, scale the team and introduce more innovation to the industry, including advanced AI support for its suite of solutions.
The business, which has so far only used its own funding sources to scale to a team of 146 in under 10 years, has raised 拢3.3m from Praetura Ventures. The minority investment includes funding from its Praetura EIS Growth Fund, Praetura Growth VCT and from NPIF II 鈥� Praetura Equity Finance.聽
Praetura鈥檚 investment director, Peter Carway, has joined Street Group鈥檚 board as part of the investment.
鈥淥ur family has deep roots in the property industry, so we鈥檝e seen first-hand the manual and complex processes that agents face,鈥� said Heather Staff.聽
鈥淢oving home is also one of life鈥檚 most stressful experiences, and we have always firmly believed that modern technology is the key to making life easier for both agents and homemovers.聽
鈥淣ow, as the established choice for forward-thinking estate agents, Praetura鈥檚 support allows us to accelerate our agent-centric approach to ensure Street customers are the agents of choice for buyers, sellers, landlords and tenants.鈥�
Peter Carway, investment director at Praetura Ventures, said: 鈥淭his deal represents everything great about investment in the region. Entrepreneurial founders have created a business that is using advanced AI to drive innovation in a sector-altering way.聽
鈥淥ur backing will give the company extra fire power to take these advancements to more of the market, so it鈥檚 an incredibly exciting time for us to join the business.聽
鈥淪treet Group鈥檚 efficient and scalable solutions have driven their immense success to date and we are lucky to have the opportunity to support the businesses with more than money in the future.鈥�