Manchester-based PropTech firm Street Group has secured a significant strategic growth investment from Hg, a prominent software and services investor. This partnership values the company at over £200 million, marking a new chapter in its mission to revolutionize the UK residential property sector. The investment will empower Street Group to enhance its AI-driven software solutions for estate and letting agents across the country.
A Strategic Partnership for Innovation
The investment from Hg represents a minority stake, ensuring that co-founders and co-CEOs, siblings Tom and Heather Staff, retain majority control of the company. This arrangement allows the founding team to maintain their strategic direction while benefiting from Hg's extensive experience. The partnership is built on a shared vision for long-term growth and a focus on delivering innovative products.
Street Group was previously backed by the Manchester-based venture capital firm PXN Group, which is known for supporting high-growth businesses in the North. The new collaboration with Hg, a major European and transatlantic investor with over $110 billion in assets, provides a substantial platform for expansion. This move signals a significant step up in the company's journey to scale its operations and market reach.
Fueling AI and Product Development
The capital injection is earmarked for accelerating product innovation and significantly deepening the company's artificial intelligence capabilities. Street Group plans to enhance its integrated operating system, which is designed to streamline daily workflows for property professionals. This focus on technology will further solidify its position as a leader in the PropTech space.
The company's current offerings include the core CRM platform Street.co.uk, the lead-generation tool Spectre, and the new AI-native product, Cortex. Cortex allows customers to build and orchestrate their own AI agents, showcasing the firm's commitment to cutting-edge technology. The new funding will directly support the continued development and expansion of this sophisticated product suite.
Leadership and Vision
Heather Staff, co-CEO of Street Group, expressed that Hg understands the company's long-term ambition to provide agents with superior tools. She emphasized that the investment enables further investment in products, technology, and people while preserving the customer-centric culture. This alignment of values was a crucial factor in forging the new partnership.
Louis Kinsella, a Partner at Hg, praised Street Group as a category leader with a distinct technical advantage and strong customer loyalty. He highlighted the exceptional leadership of Tom and Heather Staff, who have successfully combined product innovation with accelerating growth. Hg is enthusiastic about supporting the company as it continues to displace legacy industry solutions.
Market Position and Future Outlook
Founded in 2015, Street Group has rapidly become one of the most innovative players in UK PropTech, serving thousands of estate and letting agency branches. With a team of over 200 employees, the company has established a strong foothold in the market. Its integrated platform is deeply embedded in the daily operations of its extensive client base.
This strategic investment positions Street Group to further disrupt the residential property market with advanced, AI-powered tools. The collaboration with Hg provides not only capital but also operational expertise in scaling software businesses. The company is now poised to expand its influence and redefine industry standards for efficiency and service.
This strategic investment from Hg marks a pivotal moment for Street Group, validating its innovative approach and strong market position. The partnership will accelerate the development of its AI-driven platform, empowering UK estate and letting agents with more powerful and efficient tools. With its founding leadership intact and new resources at its disposal, Street Group is well-equipped to lead the digital transformation of the property sector.