Editor's note: This brief was summarised by The Property AI Team from a report by The Negotiator. Read the original article for full details.
Street Group Receives New Investment from Major Software Backer Hg
Street Group, a provider of estate agency software, has secured minority investment from Hg, a major investor in European and transatlantic software and services businesses. The company stated that this investment values Street Group at more than £200 million.
According to Street Group, the new backing will enable further investment in its products, technology, and staff. The company also indicated that the funding will support product innovation and enhance its artificial intelligence capabilities.
Tom and Heather Staff, who are brother and sister, remain the majority controlling shareholders and will continue to lead the business. The terms of the deal have not been disclosed.
Hg’s involvement is expected to help Street Group accelerate product development and bring additional value to its customers, according to a statement. The investment is aimed at supporting the company’s growth and deepening its technology offering for estate and letting agents.
This development is relevant for UK letting agents and inventory clerks who use or are considering agency software solutions, as Street Group plans to expand its tools and services for the sector.
Source: The Negotiator