Property due diligence technology platform Orbital Witness has raised £7.5m in venture funding and intends to use the capital to expand into the residential market, with an initial focus on leasehold property.
The company says its technology, which is currently used by more than 2,000 commercial real estate lawyers and property professionals, uses “generative artificial intelligence (AI) to transform and automate the process of transacting property – helping free solicitors and their clients from onerous levels of paperwork”.
Orbital Witness claims its system can automatically pull and analyse data from public sources, including the Land Registry and local authorities, in “a matter of seconds” enabling conveyancers to boost capacity.
The Series A round was led by proptech investor Parker89 and joined by LocalGlobe, Outward VC, Seedcamp, Portfolio Ventures and Realty Corporation.
Will Pearce, who co-founded the business with Ed Boulle, said: “We transform how property due diligence is handled and empower legal experts to get an instant picture of everything they need to know about a property, enabling them to advise their clients quickly and with maximum clarity.
“We’ve had unprecedented demand for our platform amongst commercial real estate specialists and we’re excited to bring it to the residential market. Right now, conveyancers are drowning in paperwork. We want to free them from that burden so they can spend less time trawling documents and more time proactively supporting their clients.
“We’re grateful to our investors for making this next phase of our product development possible and we’re looking forward to working with them closely as we continue to grow.”
