Manchester PropTech Street Group has been valued at more than £200 million by a strategic growth investment from listed private equity investor Hg.
London-based Hg is investing £7m, with some of its institutional clients also participating in the raise through its Hg Mercury Fund.
Street Group is a leading provider of vertical software and AI to the UK residential property sector.
Founded and led by siblings and co-CEOs Tom and Heather Staff, Street has built an integrated operating system which spans its core CRM (Street.co.uk), its prospecting and lead-generation platform, Spectre, and a growing suite of AI-native products including Cortex, which allows customers to build and orchestrate their own AI agents.
Today, the business serves thousands of estate and letting agency branches across the UK.
While Hg is known for European and Transatlantic investments, there was no indication that Street Group is planning global expansion.
The founder siblings remain majority controlling shareholders in Street Group and will continue to lead the business. They said: “We built Street to fundamentally change how estate and letting agents work, and AI is central to that mission.
“In Hg we have found a partner who shares our long-term ambition, our product focus, and brings genuine depth of experience and operational expertise in scaling software and AI businesses.
“This partnership allows us to invest even more in our products, our technology and our people, while staying true to the culture and obsessive customer focus that have defined Street from the start.”
Louis Kinsella, partner at Hg, said: “Street is exactly the kind of business we love to back. It’s a category leader with a technical edge, loved by its customers, and is deeply embedded in their daily workflows.
“Heather and Tom are an exceptional founding team who have built something rare, combining genuine product innovation with accelerating growth, as the industry moves towards them and away from legacy solutions. We are excited to support the next phase of their journey.”
Conor Stewart, principal at Hg, added: “Tom and Heather have built a fantastic business. The depth and ambition of its AI capabilities and its culture of innovation were clear to see as we got to know the business, and we were deeply impressed by the strength of Street’s technology and product leadership.
“We see a significant opportunity to build on that foundation, leveraging Hg’s capabilities to help Street accelerate its product development to bring even more value to customers.”
Street Group was previously backed by Manchester-based VC firm PXN Group.
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