The raise brings total funding for the AI company to $15.4 million, according to PitchBook. Local Logic’s platform, which uses data to measure demand for real estate assets, is used by the likes of Sotheby’s, Zillow and Realtor.ca, among others. Toronto-based GroundBreak Ventures led the round, with participation from Shadow Ventures, BDC Capital, Jones Boys Ventures, Cycle Capital and Desjardins Capital. (BetaKit, The Logic)
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The raise brings total funding for the AI company to $15.4 million, according to PitchBook. Local Logic’s platform, which uses data to measure demand for real estate assets, is used by the likes of Sotheby’s, Zillow and Realtor.ca, among others. Toronto-based GroundBreak Ventures led the round, with participation from Shadow Ventures, BDC Capital, Jones Boys Ventures, Cycle Capital and Desjardins Capital. (BetaKit, The Logic)
Talking point: The investment in Local Logic is an indication of how surprisingly robust the real estate market remains, despite the economic ravages of the COVID-19 pandemic. Fuelled by supply shortage and increased competition in many markets, Canadian home prices saw a 17.5 per cent year-over-year increase in September. GroundBreak, which invests primarily in real estate- and property-technology sectors, has also invested in Indus.ai, Enertiv and Simplicity financial software, among others.
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