Commonplace secures £2.1m investment for built environment engagement platform
Built environment engagement platform Commonplace has secured a £2.1m investment from proptech investors led by venture capital firm Beringea, alongside Grosvenor Property UK, The Conduit Impact Fund, Concrete Ventures, Oxford Innovation Finance and Foundation Ventures. The funds will help to fuel Commonplace's expansion, enabling its growing client base to demonstrate the positive impact their work has on the communities they serve. The UK's most advanced social engagement tool for the built environment, Commonplace already powers more than 3,000 projects for 200 councils and real estate developers, engaging more than 6.5 million people across the UK.
Typical uses include urban regeneration schemes, high streets, housing developments, pedestrian and cycling schemes and major infrastructure projects.
It allows customers to understand the aspirations and concerns of their local audiences, enabling them to create places that respond better to these needs, with greater support. Grosvenor Property UK announced the creation of its Alternative Investment portfolio last year, designed to deploy capital into early-stage companies capable of accelerating the attainment of its ambitious environmental, social, and commercial goals.
"Great places are only created and managed through early, open, and two-way engagement with the experts – the people who live and work there," said Andy Doyle, innovation director at Grosvenor Property UK. "Commonplace’s technology powers more inclusive and extensive participation and improves our ability to understand and respond to local knowledge and needs. As an investor, we see real value in the role Commonplace can play in improving the voice local stakeholders have in the future of their places and as a client, we will be applying this within our portfolio to help evolve our own extensive engagement activity, and direct our passion to create high-quality places."
Beringea investment director Eyal Malinger said Commonplace was "the enabler of true citizen engagement". Its software enables all levels of government and organisations to listen to the voices of their citizens, customers, and communities. "We are excited to be supporting Mike and his team on their journey," he added.
They've invested in Commonplace
Get to know these Greentech investors
Click here for a full list of 6,481+ startup investors in the UK