Location intelligence insights company Local Logic today announced that it has raised $13 million in new funding to accelerate its predictive capabilities, which allow users to predict latent demand for housing and understand how neighborhoods evolve.

Founded in 2014 as Enterprise Nexmoov Inc., Logic Logic offers a location intelligence platform that digitizes the built world to make it understandable and actionable for consumers, investors, developers and governments. The company quantifies the effects of the built world on the risk and return of real estate investment decisions across varying scales and levels of sophistication.

Although real estate is at the forefront of its offering, Local Logic’s data also offers insights to assist governments in policy-making and regulation decisions concerning residential real estate, with a view to measuring the impact of development on the sustainability and livability of cities.

Local Logic’s platform offers insights on more than 85 billion data points and information on over 300 million properties in the U.S. and Canada that quantify the built world using data and artificial intelligence. The company has more than 15 million monthly users accessing its insights into the $217 trillion real estate market.

Along with accelerating the development of its predictive capabilities, Local Logic also plans to use the $13 million in new funding to expand its partnerships with broker sites and multiple listing service organizations and augment its product suite with new property technology solutions geared to democratize location insights.

The Series B round was led by GroundBreak Ventures LLC and Investissement Québec Inc., with Band Capital Partners Ltd., an affiliate of Triovest Realty Advisors Inc., Cycle Capital Management Inc., Desjardins Group Cooperative Ltd., Jones Boys Ventures LLC, Second Century Ventures LLC and Shadow Ventures LP also participating.

“Many factors go into making real estate investment and development decisions and location is not often one of them,” said GroundBreak Managing Partner Scott Kaplanis. “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.”

Image: Local Logic