A Manchester-based property tech start-up has made significant strides in modernising estate agency processes.
- Street Group has secured £3.3m in funding from Praetura Ventures, marking a substantial investment in the property tech sector.
- The investment will be used to enhance AI-driven solutions, which Street Group believes are key to improving estate agency efficiency.
- Street Group’s products, Spectre and Street.co.uk, are designed to streamline processes and enhance customer service.
- The company aims to use the funds to accelerate product development and expand its innovative team further.
A promising Manchester tech start-up, renowned for its development of intuitive software solutions for estate agents, has successfully raised a fund of £3.3 million. This venture seeks to significantly enhance and simplify essential processes within the estate agency sector, driven by advances in artificial intelligence. The funding was secured from Praetura Ventures, along with contributions from NPIF II – Praetura Equity Finance, a constituent of the Northern Powerhouse Investment Fund II.
Established by siblings Tom and Heather Staff in 2015, Street Group offers two pivotal products—Spectre and Street.co.uk. These innovative tools aid estate agencies by efficiently generating leads and securing new business, alongside providing exceptional customer support. The group’s recent accolades include the Best Overall Supplier at the 2024 EA Masters and Gold Supplier of the Year at ESTAs 2024, underpinning its reputation in the industry.
Street Group’s strategic plan involves leveraging the new funding to propel product development, grow its team, and push forward with innovative industry-first features, particularly around AI. The group boasts an existing client base of over 4,000 agencies across various scales. The fresh investment, described as a minority investment, comes partly from Praetura’s EIS Growth Fund, Praetura Growth VCT, and Praetura Equity Finance. Subsequently, investment director Peter Carway has joined the board, enhancing the firm’s strategic direction.
Spectre serves as an all-encompassing marketing solution, enabling estate agents to automate multi-channel campaigns effectively. With a sophisticated AI-driven model predicting market movements, Spectre potentially boosts marketing campaign efficiency by over 300%. Meanwhile, Street.co.uk streamlines sales, lettings, property management, and client accounting, introducing significant AI-powered functionalities that eliminate routine manual tasks. Innovative online booking, automated workflows for background checks, and advanced image enhancement are part of its offerings.
Heather Staff expressed the vision steering their innovations, founded on personal insights into the challenges faced within the industry. She noted their commitment to simplifying the often challenging home-moving process through technology, thereby making it less stressful for agents and homeowners alike. Praetura’s backing, she declared, supports the group’s ongoing commitment to setting industry standards for modern, agent-centric solutions.
Praetura investment director Peter Carway emphasised the transformational potential of this investment within the regional tech landscape. He highlighted the entrepreneurial spirit of the Street Group founders and noted the transformative role AI can play in revolutionising the sector. According to Carway, this solid backing will enable the company to extend its market impact robustly, anchoring their success on efficient and scalable solutions.
The £3.3m investment in Street Group signifies a pivotal step in advancing AI-powered innovations for the estate agency sector.
