Local Logic raises $17.5M in Series B funding

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Local Logic raises $17.5M in Series B funding to expose location-based risks and opportunities in real estate

We are thrilled to announce that we’ve raised our Series B!

Today, we are incredibly proud to announce the close of $17.5 million in Series B financing led by GroundBreak Ventures and Investissement Quebec.

The round also includes participation from a notable group of investors, including Band Capital Partners, an affiliate of Triovest Realty Advisors, Cycle Capital, Mouvement Desjardins, Jones Boys Ventures, Second Century Ventures, and Shadow Ventures. This raise brings our total funding to $25 million.

A few words from our investors:

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. We’re excited to contribute to the company’s long-term goals of uncovering more critical location insights to inform consumers and real estate investors.

Scott Kaplanis

Managing Partner at GroundBreak Ventures

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.

Guy LeBlanc

President and CEO of Investissement Québec

How we’ll use this funding

Through Local Logic, the industry gains granular, proprietary, and actionable location insights to better understand how the built environment impacts the risks and returns of real estate investments, at all scales and levels of sophistication.

Over 15 million monthly users leverage our solutions to uncover location-based risks and opportunities in real estate. With 85 billion data points covering 250 million individual addresses, our location insights are featured on 6,000+ real estate websites in the U.S. and Canada, including CRMLS, Century 21, RE/MAX, Rocket Homes, and many more.

By quantifying location at scale, our location intelligence insights enable investors, developers, and governments to make better decisions across the $217 trillion real estate market.

This financing round will propel growth in key areas such as customer penetration, expanded product lines, and go-to-market teams.

We plan to leverage this new funding to:

Accelerate our predictive capabilities, which allow users to predict latent demand for housing and understand how neighborhoods evolve.
Expand our partnerships with broker sites and MLS organizations to impact every real estate decision in the U.S. and Canada.
Augment our product suite with new PropTech solutions geared to democratize location insights.

What does it mean for the future of real estate?

As the real estate industry grapples with increased uncertainty, the need to understand and predict the impacts of location on ROI becomes more critical.

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.

Vincent-Charles Hodder

Co-founder of Local Logic

This raise sets us to become the leading authority on how location affects residential real estate value, both for consumers and investors. By combining our comprehensive understanding of neighborhoods and cities with our deep data science expertise, we are uniquely positioned to explain the impact of location.

Beyond empowering investment decisions, Local Logic also provides insights to help governments make better policy and regulation decisions regarding residential real estate that contribute to the sustainability and livability of our cities.

We are confident that this new financing round will enable us to continue delivering robust, reliable, and consistent insights to help the real estate industry harness the power of location.

If you are heading to Inman Connect in Las Vegas on August 8-10, 2023, be sure to connect with our CEO Vincent-Charles Hodder and the team. We’d be delighted to chat with you about location insights!