Local Logic, a Montreal, Canada-based location intelligence insights provider, raised $13M in Series B funding.
The round, which brought the total amount to $19M, was led by GroundBreak Ventures and Investissement Québec, with participation from Band Capital Partners, an affiliate of Triovest Realty Advisors, Cycle Capital, Desjardins Group, Jones Boys Ventures, Second Century Ventures, and Shadow Ventures.
The company intends to use the funds to grow in key areas such as customer penetration, expanded product lines, and go-to-market teams.
Led by CEO Vincent-Charles Hodder, Local Logic is a location intelligence platform that digitizes the built world for consumers, investors, developers, and governments – delivering clarity and actionable insights capable of creating sustainable, equitable cities. With more than 85 billion data points, the platform creates a digital twin of cities, quantifying the built world and offering predictive, precise analytics to inform the present and future of over 250 million individual addresses. The company’s insights are used across the real estate market, making location universally understandable and actionable for investors, developers, and governments. Over 15 million monthly users leverage its consumer solutions.
The new financing will help accelerate the company’s predictive capabilities, which allow users to predict latent demand for housing and understand how neighborhoods evolve. Moving forward, Local Logic will look to expand its partnerships with broker sites and MLS organizations to impact every real estate decision in the United States and Canada. In addition, Local Logic will augment its product suite with new PropTech solutions geared to democratize location insights.
FinSMEs
02/08/2023