Start-up Orbital Witness, which profiles risk in property transactions, has raised £3.3m in its latest fundraising round.
The investment round, led by LocalGlobe and Outward VC, brings the legaltech start-up’s total funding to £4.5m.
Seedcamp and JLL Spark, which backed the company in its previous £1.2m funding round, also returned to invest.
With its new investment, the company will create a risk rating for property and land similar to a credit check to assess property risk for users.
Orbital Witness is used by numerous Magic Circle law firms, M&S and TfL, and was set up in 2017. It is also looking to double its 15-person team in the next year for its planned stage of growth.
Will Pearce, co-founder and chief operating officer at Orbital Witness, said: “We’ve built a system for clients to access documents from numerous important sources and provide an easy way to provide risk assessment and insights quickly.
“Now, we’re using that expertise and technology to reimagine property and land risk for today, to make transacting real estate less time consuming, arduous and inefficient.”
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