Proptech company LandTech has opened its first office in the US to help the country deal with a housing shortage of circa four million homes per year.
The platform, which is used by the UK’s top 10 housebuilders and more than 2,000 UK property industry clients, enables property developers of all sizes to identify and assess off-market development opportunities. LandTech has opened an office in Florida which will cover the whole state and intends to add more states soon.
Jonny Britton (pictured), co-founder of LandTech, said: “Our arrival in the US is no coincidence, especially with the supply of new homes shrinking 30% in 2020 alone, and the countrywide housing shortage of four million new homes needed for the next five years.
“Our mission is much greater than proprietary software, it’s about enabling a true sense of place, which technology cannot solve alone. We’re on track to achieving this, not least that our platform has brought together the largest and most varied raft of developers in the industry, all under one platform. 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 analysing the heavily misunderstood green belt.
“While we’ve chosen Florida as our starting point, it’s just the beginning. Over time, our vision is to create a suite of data-driven tools that enable real estate stakeholders across the US to build the communities we all desperately need.”
LandTech secured more than £42m of series A funding in late 2021 from Washington DC-based UpData Partners and JLL Spark, and more recently it secured an additional £10m in growth capital from Canada’s CIBC Innovation Banking.
