Undisclosed · Growth/Late · Software · Manchester, UK
Street Group, a Manchester software company for estate and letting agents, has secured an undisclosed strategic minority growth investment from Hg at a valuation above £200m. Founders and co-CEOs Tom and Heather Staff remain majority controlling shareholders. The company said in its announcement that the backing will accelerate product development and deepen its artificial-intelligence capabilities.
HgCapital Trust said it will invest approximately £7m, with other institutional clients of Hg investing alongside it through the Hg Mercury Fund. The wider transaction terms were not disclosed, so £7m should be read as HgT's share rather than the total amount invested in Street.
Workflow depth is Street's AI distribution
Street has built an operating system around the work of UK estate and letting agents. Its Street.co.uk CRM covers sales, lettings, property management and client accounting; Spectre handles prospecting and lead generation; and Cortex lets agencies build AI agents that act across those systems. Cortex can handle enquiries, update CRM records, prepare property reports, coordinate maintenance and trigger follow-up work.
That product structure gives Street a distribution advantage for AI: the automation sits inside the records, permissions and daily tasks its customers already use. An agency does not need to move data into a separate assistant before it can automate a viewing, landlord update or applicant follow-up. The same integration also raises the execution bar. Actions involving client communications, compliance or property records need reliable permissions, audit trails and human approval where mistakes carry commercial or regulatory consequences.
Street says its products serve thousands of estate and letting agency branches across the UK. In May, shortly after Cortex launched, the company said more than 300 agencies were in the process of going live on the product. Those are company-supplied adoption figures, but they explain why Hg is backing a broader platform rather than a standalone AI feature: Street can introduce new automation to an installed CRM and prospecting base.
Minority capital preserves founder control
The deal keeps Tom and Heather Staff in control while bringing in an investor specialised in vertical software. Hg says Street's position inside daily agency workflows, customer support and pace of product development underpin its thesis. Street says the capital will fund its products, technology and people.
Street was founded in 2015 and bootstrapped for nearly a decade before PXN became its first outside investor in December 2024. PXN says the Hg transaction produced a 4.4x return on its Street investment. The step from a £3.3m first institutional round to a £200m-plus valuation shows how quickly the company's financing profile changed, but the next proof point is operational: whether agencies use Cortex often enough to improve productivity and retention without weakening control over customer-facing work.
