- Local Logic — a location intelligence platform that provides powerful insights for homebuyers, real estate professionals, and developers — announced it has raised $8 million CAD in funding
Local Logic — a location intelligence platform that provides powerful insights for homebuyers, real estate professionals, and developers — announced it has raised $8 million CAD in funding. This round of funding included equity and debt with participation from Shadow Ventures, BDC Capital, Jones Boys Ventures, Cycle Capital, and Desjardins Capital. And the round was led by GroundBreak Ventures, a Toronto-based VC focused on Property Technology.
Local Logic is known for offering the single largest location intelligence data set in North America — incorporating over 30 billion data points spanning more than 200 million properties across the U.S. and Canada.
And by combining traditional real estate data like property history, demographics, and market comparisons, with a vast trove of other alternative data sources, its platform brings transparency to the real estate market by building a digital representation of cities and analyzing how external factors like noise, vibrancy, walkability, transit access, and quality of schools impact market demand.
Local Logic’s location intelligence essentially allows for a new breed of placemaking — one driven not by gut feeling and intuition, but by data encompassing all the elements of the real estate market and the built environment. And through access to accurate, real-time data, Local Logic seeks to empower the public and private sectors to understand and respond to the needs of citizens, thus creating long-term value and more equitable, resilient places to live.
The company also equips real estate investors, developers and other professionals with a more holistic picture of markets and related consumer demand. And this analysis creates new levels of certainty around property-level attributes that have long been treated as subjective, thus helping them to determine the highest and best use of any specific asset and enabling more accurate, efficient, and successful investment decisions.
KEY QUOTES:
“The real estate market and the broader world seem to be in a near perpetual state of evolution. As our communities continue to undergo increasingly rapid economic and social shifts, it is vital that consumers, real estate professionals and urban planners alike have a role in shaping their future. At Local Logic, we believe that a data-driven approach to location intelligence is the key to developing this shared vision. With the backing of our new investors, we are now in a prime position to expand our platform and begin to not only reimagine the way our cities are planned, built, and experienced, but to better represent the needs of the citizens that inhabit them.”
— Local Logic Founder and CEO Vincent-Charles Hodder
“We have been impressed by Local Logic’s ability to capture and analyze unparalleled levels of data at the property level within the context of the broader built environment. Recent shifts in preferences – many of them brought on or accelerated by the COVID-19 pandemic – have created an uncertain environment for homeowners, real estate agencies, landlords, developers and investors. Local Logic provides these stakeholders with powerful tools capable of providing real-time insight into demand drivers that will shape cities and communities in the future.”
— Scott Kaplanis of GroundBreak Ventures
“Local Logic’s proprietary data mix is among the most unique we’ve seen in the sector and it’s going to help a lot of U.S. based real estate developers make smarter investment decisions, both from a site selection and a tenant mix perspective. The early adopters are in for a treat.”
— KP Reddy, Founder and CEO of Shadow Ventures
