Media Proptech Startup Landeed Gains Investment from Paradigm Shift VC in Strategic Funding Round

Proptech Startup Landeed Gains Investment from Paradigm Shift VC in Strategic Funding Round

21 June 2024
Proptech Startup Landeed Gains Investment from Paradigm Shift VC in Strategic Funding Round

Proptech Startup Landeed Gains Investment from Paradigm Shift VC in Strategic Funding Round

Synopsis

Landeed, in January 2023, raised $8.3 million in a seed round with participation from Y Combinator, Draper Associates, and Bayhouse Capital. The startup has witnessed a 22x growth in key financial metrics since its inception. Additionally, it now boasts over 5 million downloads, making it the largest title search engine in the country by a wide margin.

Successful Financing Round

Landeed, a platform for property title search engines, has successfully closed a strategic financing round led by Paradigm Shift VC.

In January 2023, the company raised $8.3 million in a seed round with participation from Y Combinator, Draper Associates, and Bayhouse Capital.

Utilization of New Capital

The new capital will be utilized to increase Landeed's product line and further enhance its workforce expansion to support its growing expansion both domestically and internationally.

CEO’s Statement

"Though we weren't actively raising funds, we were heavily oversubscribed in the last round and still had the majority of our previous round's funding intact. We decided to move forward with their investment due to our strong relationship. We will use this additional capital to expand our consumer-side offerings and scale our engineering team. Expect to see several new initiatives being accelerated in the coming two quarters as we aggressively double down on our fast-growing business lines and geographic expansion," said Sanjay Mandava, Co-founder and CEO of Landeed.

Impressive Growth Metrics

Since its inception,Landeed has witnessed a 22x growth in key financial metrics. Additionally, it now boasts over 5 million downloads, making it the largest title search engine in the country by a wide margin.

Impact on the Real Estate Industry

Landeed’s mobile app allows property owners, agents, developers, and legal advisors to access real estate records for building, lending, and transacting properties. Over 100,000 property owners and agents have already utilized Landeed’s platform to buy, sell, and build real estate, underscoring the startup’s significant impact on the industry.

AI Property Analyzer

Landeed has recently launched India's first AI Property Analyzer, which provides a complete ownership history of properties, from the initial owner to the most recent, including any transactions or encumbrances. This tool delivers a clear and concise title flow efficiently, thanks to a model trained to comprehend legal intricacies within Indian property documents.

Investor’s Confidence

“We are leading this funding round to emphatically show our vote of confidence in the team and their ability to win the market and make real estate buyers’ lives easier,” said Surabhi Washishth, Founding General Partner at Paradigm Shift Capital.

About Landeed

Founded in 2022 by Sanjay Mandava, ZJ Lin, and Jonathan Richards, Landeed is transforming property due diligence for all parties involved, facilitating seamless communication and efficient deal closures.

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