LandGate Corp., a Denver, CO-based marketplace and data provider for commercial land and its resources including solar, wind, minerals, water, and carbon offsets, raised $10m in Series B funding.
The NextEra Energy Resources, LLC subsidiary led the round, and Kimmeridge participated.
The company intends use the funds to improve its product portfolio, with a focus on solutions for financial institutions. To expand its marketing and sales efforts, the company also plans to increase its market penetration throughout the country.
LandGate, headed by Yoann Hispa (CEO and co-founder), is an information provider, data solution provider, and an online marketplace that offers US commercial land. Its resources include solar, wind carbon, minerals and water. LandGate allows landowners, developers, investors, agents and real estate agents to learn about energy and environmental resources and connect with each other through its online marketplace. It uses its technology to offer leads, data and analytics to significantly reduce costs and speed up land transactions.
Developers, investors, and real-estate professionals can use its data solutions to create web applications and run economic engineering studies in a matter of minutes. They can also access land leads and MLS listings. Finally, they can manage their leads using a land CRM webapp that connects with Salesforce.
LandGate has launched a new dashboard specifically for capital markets users. This interface will provide metrics to investors looking to assess large energy and resource portfolios. It will also present projected production, cash flow and company net asset values (NAVs). The interface is updated with new farm activity and electricity pricing data. Insurers and traders can see the projected quarterly cash flows for renewable energy operators, and they can also risk them to weather natural disasters.
In addition to helping to accurately value different land uses, the platform also connects investors with leads via its online marketplace.
LandGate had already closed over $300 million worth of land resource deals in the United States as of the beginning of 2022. This included transactions to develop solar, wind and carbon, as well as mining, electric vehicle charging, water resources, and mineral development. By the end of the year, over 60% of all the land real estate agents in the U.S. will be using LandGate’s land analytics, which help them transact on energy and environmental deals and access corporate buyers.
LandGate raised $19 million total in equity and debt after this round.