Hg, the London-based software investment giant, is placing a £200 million £200m bet on the UK’s residential property market. The firm has taken a stake in Manchester’s Street Group, a proptech company that builds the operating system for estate agents, at a valuation above £233.8 million.
Siblings Tom and Heather Staff founded the company in 2015 under the name Agent Software. Their flagship platform now powers everything from property listings and client management to transaction tracking for agents across the UK.
The Staffs, who serve as co-CEOs, said the investment gives them room to accelerate product development and AI features while keeping their customer-centric culture intact. “AI is central to that mission,” they said in a joint statement.
Previous backer PXN Group, a Manchester-based VC, exits through the deal. Hg joins a growing list of software-focused investors that have turned their attention to property technology in Europe, a sector that has historically attracted less institutional capital than health or fintech. The exact amount raised was not disclosed.
