Shantel
Key Takeaways
- Local Logic, a leading location intelligence insights provider, secures $17.5 million in Series B financing led by GroundBreak Ventures and Investissement Québec.
- The funding will bolster customer penetration, product line expansion, and go-to-market teams.
- The company’s location-based insights aid real estate investment decisions and help to predict latent demand for housing and neighborhood evolution.
About Local Logic
Local Logic is a location intelligence platform that is revolutionizing the real estate landscape. It aims to make cities more sustainable, equitable, and digital by providing location intelligence for consumers, investors, developers, and governments. Armed with over 85 billion unique data points, Local Logic boasts the largest unique location dataset in the U.S. and Canada, equating to a digital twin of cities.
The Transformative Power of Location Intelligence
In an ever-evolving real estate landscape, Local Logic is leading the charge with granular, proprietary, and actionable location insights. These insights not only help understand the built world’s impact on the risk and return of real estate investment decisions but also empower policy and regulation decisions made by governments regarding residential real estate. The company aims to expand its partnerships with broker sites and Multiple Listing Service (MLS) organizations, thereby influencing every real estate decision in the U.S. and Canada.
“Many factors go into making real estate investment and development decisions, and location is not often one of them. We believe in Local Logic’s mission to make cities more sustainable by bringing deep insight into location-based risk and opportunity to actors making high-consequence decisions in housing and the built environment,” said Scott Kaplanis, Managing Partner, GroundBreak Ventures.
Series B Funding: Fueling the Future
Local Logic’s recently announced Series B financing of $17.5 million will boost the company’s predictive capabilities, helping to anticipate latent demand for housing and comprehend how neighborhoods evolve. The company aims to utilize the funding to enhance its product suite with new PropTech solutions, democratizing location insights.
Guy LeBlanc, President and CEO of Investissement Québec, said, “We are proud to support two rising-star entrepreneurs in this new round of financing. With our partners in Québec’s financial ecosystem, we will endeavor to fill the gaps in the capital chain and further the emergence of new technologies, from conception to sales.”
Vincent-Charles Hodder, CEO and co-founder of Local Logic, expressed his excitement: “This round of funding represents a significant milestone for Local Logic. With an increasingly complex real estate market, our proprietary insights have become crucial in understanding location’s impact on ROI. With significant growth in size, notable partnerships, and prestigious awards, we’re at the forefront of the industry, providing actionable location-based insights.”
Unearthing Location-Based Opportunities
Local Logic’s goal goes beyond providing insights for investment decisions; the company also aims to influence governmental policy and regulation decisions regarding residential real estate that impact the sustainability and livability of our cities. Over 15 million monthly users leverage Local Logic’s consumer solutions in the vast $217 trillion real estate market.
An Outlook on the Future
With this latest funding round, Local Logic’s total funding has risen to $25 million. This capital injection will strengthen the company’s drive to make location universally understandable and actionable for investors, developers, and governments. By doing so, Local Logic aims to shape the present and future of over 250 million individual addresses.
The future looks bright for Local Logic as it continues to pioneer in the realm of location intelligence. By placing location insights at the heart of decision-making in the real estate industry, the company is transforming the way we understand and interact with our built environment. As Local Logic and its CEO, Vincent-Charles Hodder, prepare for Inman Connect in Las Vegas this August, the real estate industry waits in anticipation of the company’s next breakthrough.
