Property technology firm boosts headcount to 600
NORTH East property technology company iamproperty has increased its headcount to more than 600 as its technology is used by more estate agents.
The Gosforth firm, which specialises in technology for online property auctions, was started as a twoman team in 2009 by Jamie Cooke and Ben Ridgway.
Its brands includes auction provider iamsold and a ‘whole of market’ unit comprising The Conveyancing Partnership, Intelligent Compliance Limited and VTUK.
Since 2020, its team has more than tripled in size, with almost 100 new team members in the last six months alone. Last year the company’s sales grew to account for 1% of all UK property transactions for the first time and it is expecting more growth this year.
The company is currently advertising a number of jobs in its conveyancing, engineering, compliance and sales departments.
Co-founder Ben Ridgway said: “The growth of the team is an important step as we deliver on our ecosystem vision and work with more estate agents to help them to succeed.
“We’re always excited to be creating jobs and have people join us who buy into our vision of transforming the way people buy and sell property in the UK.
“Our ecosystem is our next big step towards improving the process for everyone involved.”
Iamproperty last year announced investment from private equity backer Perwyn that is believed to have topped £100m. At the time, Perwyn said that it would “support the business
We’re always excited to be creating jobs and have people join us Co-founder Ben Ridgway
as it delivers on its vision to provide an ecosystem of innovative solutions for estate agents across the UK”.
That deal, in which Mr Cooke and Mr Ridgway retained their majority share, saw Lloyds Bank equity division LDC exit the company. LDC had taken a minority stake in the business in 2019 and said that it had achieved a return of 3.7 times its investment.
Since then the company has acquired Somerset firm Information Works as part of its growth strategy. It had previously acquired property software business VTUK and SDL Auctions’ portfolio of estate agency partners in 2022 to expand its portfolio.