Utopi operates a digital ESG platform that extracts live data from multi-tenant real estate and informs residents and owners on how buildings perform to ESG standards. The Glasgow-headquartered company was founded in 2019 by CEO Jonathan Burridge alongside co-founders John Trowler and Falk Bleyl. Its platform integrates three core components: an analytics system to monitor building performance, energy control tools to reduce consumption, and a resident engagement app promoting environmentally conscious behaviour.

“We recognised early on that to make a real impact, we had to address the growing demand for sustainability in residential properties,” says Burridge. This understanding prompted a strategic shift in 2021, with Utopi aligning its platform more closely with ESG standards. “The timing was right to reposition ourselves within the ESG landscape,” Burridge says. By concentrating on the ESG aspects of residential accommodation - an area often overlooked by traditional PropTech - Utopi has emerged as a leader in the UK market. “We identified an opportunity in student accommodation and residential properties, went in deep, and became the default option,” he says.

A key differentiator for Utopi is its leadership team and their breadth of experience in the tech sector. Burridge and CTO Bleyl have worked together for over 15 years across tech. “Coming from outside the real estate industry allowed us to see inefficiencies others had overlooked,” Burridge says. “We realised that scaling up required direct engagement with investors and asset owners, which helped us build credibility in an industry often slow to innovate.”

The company’s growth journey has not been without its challenges. Burridge took a significant personal risk by leaving a well-paid corporate job to invest in the business. “It was a massive leap of faith, resigning from a secure position and investing in a new business with no revenue on day one,” he says. Another turning point came when a potential client, during a product demo, asked, “What’s the ROI?” This pushed Utopi to focus on providing return on investment as a central part of its value proposition - a focus that remains critical to its growth today. To date, Utopi has raised £6.42m across three funding rounds, including £5m from the Scottish National Investment Bank in 2023. This funding is helping to create jobs and support the company’s expansion into the US market.

Key milestones include the successful installation of Utopi’s platform in 12 buildings in 2021 and 2022, validating its product-market fit and demonstrating the scalability of its offering. Today, Utopi continues to acquire new clients while expanding its services within existing portfolios, enabling large-scale operators to meet their sustainability targets through its data-driven tools.

While Utopi initially aimed for commercial growth and a possible exit within five years, the company’s mission has since evolved. Now, the team is driven by a broader purpose: to create a lasting impact by supporting decarbonisation and improving environmental performance on a larger scale. “We rediscovered ourselves as a business with the potential to make a genuine difference to the planet and people, shifting from a purely commercial venture to one with purpose,” Burridge says. This renewed sense of mission has attracted growing interest from investors, with nearly 60 inbound inquiries since Utopi’s inclusion in the 2023 Fast 50 list.