News Briefs

Local Logic secures $13m in GroundBreak and IQ-led Series B deal

Local Logic is a Montreal-based location intelligence insights provider for real estate professionals, developers, investors and governments.

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  • GroundBreak Ventures and Investissement Québec led the deal
  • Other investors included Band Capital Partners, an affiliate of Triovest Realty Advisors, Cycle Capital Management, Desjardins Group, Jones Boys Ventures, Second Century Ventures and Shadow Ventures
  • The round brings Local Logic’s total funding to $19 million

Local Logic, a Montreal-based location intelligence insights provider for real estate professionals, developers, investors and governments, has raised $13 million in Series B financing.

The round brings the company’s total funding to $19 million.

GroundBreak Ventures and Investissement Québec (IQ) led the deal. Other investors included Band Capital Partners, an affiliate of Triovest Realty Advisors, Cycle Capital Management, Desjardins Group, Jones Boys Ventures, Second Century Ventures and Shadow Ventures.

Local Logic provides the real estate industry with granular, proprietary and actionable location insights to understand how the built world impacts the risk and return of investment decisions of all scales and at all levels of sophistication.

The company plans to use the round’s proceeds to accelerate its predictive capabilities, which allow users to predict latent demand for housing and understand how neighborhoods evolve.

“Many factors go into making real estate investment and development decisions, and location is not often one of them. We believe in Local Logic’s mission to make cities more sustainable by bringing deep insight into location-based risk and opportunity to actors making high-consequence decisions in housing and the built environment,” said Scott Kaplanis, managing partner, GroundBreak Ventures, in a statement. “We’re excited to contribute to the company’s long-term goals of uncovering more critical location insights to inform consumers and real estate investors.”

Based in Toronto, GroundBreak Ventures is a venture capital firm specializing in real estate and property technology.

Investissement Québec plays a role in Quebec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports.