Local Logic, a Montreal, Canada-based location intelligence platform that provides insights for homebuyers, real estate professionals, and developers, raised a total of $8m CAD ($6.1m US) in equity and debt funding.
The round was led by GroundBreak Ventures, with participation from Shadow Ventures, BDC Capital, Jones Boys Ventures, Cycle Capital, and Desjardins Capital.
The company intends to use the funds to accelerate recruitment and continue the growth of the platform across North America.
Led by Founder and CEO Vincent-Charles Hodder, Local Logic offers a 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. By combining traditional real estate data, such as 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 such as noise, vibrancy, walkability, transit access, and quality of schools impact market demand.
Local Logic has formed partnerships with numerous real estate developers and property management companies, including DevMcGill, Ivanhoe Cambridge and Midwood Investment and Development, as well as leading real estate portals and data providers such as RE/MAX, Inside Real Estate, CoreLogic, Zumper, Realtor.ca, and more.