Utopi, the ESG technology specialist, is set to expand into the US following a £5m fundraise from the Scottish National Investment Bank.

Founded in 2019 by a team of four, Utopi has since expanded to a team of 40 employees headquartered in Glasgow, Scotland.

Utopi has already made significant strides across the UK, Ireland and Europe, and is trusted by renowned international companies including Moda Living, Harrison Street Real Estate, Downing Group, CA Ventures, Collegiate and Scape.

Utopi now looks to further accelerate its growth by expanding into the US market and hiring strategic new roles that will help accelerate business success.

With sights firmly set on the American multi-tenant real estate market, site surveys and proof of concept designs kick off this summer with Utopi moving into its newly renovated offices in Glasgow’s East Works end of August in the heart of Scotland’s main hub for technology.

With a goal post-investment to hit a head count of 60 by December, key roles on the agenda for 2023 include: Operations, head of commercial and compliance, head of engineering, customer success and growing the product team with front-end, UX and DevOps experts.

Jonathan Burridge, CEO of Utopi, said: “Our mission is to become the number one ESG technology platform in our target markets, and this high growth phase will allow us to accelerate towards fulfilling this goal.

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“The fact that Utopi is in such a strong position to do this is not only a testament to the hard work of our incredible expert team but also because of the value we provide to our customers.”

Since 2021, Utopi has collected over 1.5 billion environmental data points, providing customers with real, tangible, and contextualised information that allows them to take action in reducing global carbon emissions.

Burridge added: “We’re proud to say that Utopi offers a completely unmatched solution in our market.

“Utopi is the specialist ESG technology platform for the multi-tenant real estate sector, and we want to make that statement include ‘around the world’.”

Having initially focused on the solely managed residential sector, Utopi has since expanded to offer its solutions to multi-tenant real estate including commercial real estate, build-to-rent, co-living, single-family housing, health and social care and purpose built student accommodation (PBSA).

Burridge concluded: “We’re excited about this next chapter for Utopi as we look to reach global audiences with our powerful solutions and services.

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“Data-driven transformation is critical for reducing the environmental impact of the real estate sector, and our aim is to be the number one driver of this across the globe.”