Major industry proptech wins £3.3 million investment
Street Group, which operates its own CRM and also marketing platform Spectre, says money will be used to grow business and develop more AI capability.
Street Group, which operates estate agency marketing platform Spectre as well as its own CRM, has received £3.3 million in funding to develop its business.
The investment is from Praetura, a UK-based financial services company that specialises in lending and equity solutions for startups and SMEs, in partnership with Government-funded enterprise backer the British Business Bank.
Street Group works with over 4,000 local, regional and national estate agencies, and is to use the funding to accelerate product development, scale the team and introduce “even more innovation to the industry, including advanced AI support for its suite of solutions”, it says.
Spectre enables agents to automate and execute their multi-channel marketing campaigns and strategies via direct mail, email marketing, social media and lead-generating property reports as well as offering an AI-generated prospecting tool.
Deep roots
“Our family has deep roots in the property industry, so we’ve seen first-hand the manual and complex processes that agents face,” says Heather Staff, (main image, far left) Co-Founder of Street Group, which is based in Manchester.
“Moving home is also one of life’s most stressful experiences, and we have always firmly believed that modern technology is the key to making life easier for both agents and home movers.
“Now, as the established choice for forward-thinking estate agents, Praetura’s support allows us to accelerate our agent-centric approach to ensure Street customers are the agents of choice for buyers, sellers, landlords and tenants.”
Peter Carway (main image, third from left) Investment Director at Praetura Ventures, adds: “This 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. Our backing will give the company extra fire power to take these advancements to more of the market, so it’s an incredibly exciting time for us to join the business.
“Street Group’s 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.”