Street Group has secured a minority investment from software investor Hg in a transaction valuing the Manchester-based proptech business at more than £200m.
Founders Tom and Heather Staff (main picture) will remain the majority controlling shareholders and continue to lead the company as Co-Chief Executive Officers.
The investment will be used to accelerate product development, recruit additional engineers and deepen the artificial intelligence capabilities of Street Group’s software for estate and letting agents.
The overall size and detailed terms of the transaction have not been disclosed. However, London-listed HgCapital Trust will contribute approximately £7m, with other institutional investors participating alongside it through the Hg Mercury Fund. The £7m represents only the trust’s share of Hg’s total investment.
LEAD GENERATION
Founded by the Staff siblings in 2015, Street Group’s products include the Street.co.uk agency CRM, prospecting and lead-generation platform Spectre and Cortex, which enables agencies to build and manage AI agents.
The company now employs more than 200 people and supplies technology to thousands of estate and letting agency branches across the UK.
“We built Street to fundamentally change how estate and letting agents work.”
In a statement Tom and Heather Staff said: “We built Street to fundamentally change how estate and letting agents work, and AI is central to that mission.
“In Hg we have found a partner who shares our long-term ambition, our product focus, and brings genuine depth of experience and operational expertise in scaling software and AI businesses.
“This partnership allows us to invest even more in our products, our technology and our people, while staying true to the culture and obsessive customer focus that have defined Street from the start.”
SOFTWARE SERVICES
Hg specialises in European and transatlantic software and services businesses. It manages more than $110bn of assets and has a portfolio of approximately 60 companies with an aggregate enterprise value exceeding $190bn.
Louis Kinsella, Partner at Hg, said: “Street is exactly the kind of business we love to back. It’s a category leader with a technical edge, loved by its customers, and is deeply embedded in their daily workflows.
“Heather and Tom are an exceptional founding team who have built something rare, combining genuine product innovation with accelerating growth, as the industry moves towards them and away from legacy solutions.”
The transaction follows a £3.3m funding round announced in 2024, when Street Group said it supported more than 4,000 local, regional and national agency businesses.
Street Group was previously backed by Manchester-based PXN Group and was advised on the latest deal by Alvarez & Marsal.
Details of the investment were confirmed in a regulatory announcement from HgCapital Trust.
