Data intelligence and online land and resources marketplace LandGate Corp. raised $10 million in Series B funding, adding to the $19 million total of raised debt and equity, a company press release announced on May 12.

The round was led by a subsidiary of NextEra Energy Resources LLC with participation from private equity firm Kimmeridge. LandGate will use the capital to enhance its product suite with a focus on solutions catering to financial institutions. The capital will also enable the company to expand its marketing and sales efforts to increase market penetration across the country.

“LandGate is at the intersection of climate tech and proptech,” LandGate CEO and Co-founder Yoann Hispa said in the release. “This investment from NextEra Energy Resources and Kimmeridge opens a new relationship for the wider deployment of our technology and disruptive business model, building upon our initial momentum from a Series A investment from Rice Investment Group."

Customers ranging from global financial firms looking to optimize their clean energy holdings to landowners across the U.S. have the ability to determine comparative values of the full spectrum of resources and potential royalties for every parcel of land in the U.S. Current customers include NextEra, renewable energy developer Lightsource BP, real estate investment trust Hannon Armstrong and Kimmeridge.

To meet the systemic shift in market expectations towards clean energy, LandGate is launching a new dashboard targeted specifically at the capital markets user base. The interface will generate metrics for investors who are assessing the projected performance of large energy and resource asset portfolios and present them with projected production, cash flow and company net asset valuations updated live with new farm activity or electricity pricing data. Traders and insurers can compare the future quarterly cash flows of renewable energy operators and risk them to weather catastrophes.

In addition to helping accurately value and assess different land uses in seconds, the platform also connects developers and investors to “ready-to-close” leads on its online marketplace for all land-related transactions, including land sales, renewable royalty sales, carbon offsets and land resource leases.

“In the coming years there will be enormous demand for land to help achieve the world’s collective climate goals”, Kimmeridge partner Alex Inkster added. “The LandGate platform is a truly differentiated screening tool and marketplace that connects landowners with renewable energy and carbon offset developers, increasing transparency and efficiency for all parties while contributing to a net-zero future.”

As of the first quarter of 2022, LandGate had already facilitated over $300 million of land resource deals nationwide across transactions for the development of solar, wind, carbon, minerals, mining, electric vehicle charging and water resources. 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.

This, combined with the company's partnership with the Realtors Land Institute and the thousands of individual landowners accessing the platform, enhances the network effect of the marketplace for land and its resources.

“As our country continues to invest in cleaner forms of energy, it is critical to identify the right sites to host projects,” NextEra president and CEO Rebecca Kujawa commented. “The LandGate platform provides its customers with an additional tool to help identify suitable land for projects while providing landowners with a new platform to help market their property.”

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