Inventory Base: The PropTech Company Digitising Property Inspections

Most UK proptech companies that reach 150,000 users have a venture capital story behind them. Inventory Base does not. The flagship product of Portsmouth-based Radweb Ltd has grown to that scale on revenue alone, without a single disclosed institutional funding round, while building the inspection platform that now underpins compliance workflows for letting agents, inventory clerks, and property managers across 45 countries. The UK’s 4.4 million privately rented properties each require regular inspections, condition documentation, and a growing stack of regulatory evidence. For most agents, that process still runs on clipboards and desktop write-up. Inventory Base has spent more than a decade replacing it with a cloud platform and mobile app that the company claims cuts reporting time in half.

The Founders and the Business

Radweb was founded in 2007 by Steve Rad and James Taylor, both University of Portsmouth graduates. The company started as a web development agency before building its own products. Rad remains the public face of the business as Managing Director. Taylor co-founded the company but does not appear prominently in recent public-facing material, and his current role is unclear.

The first product launched in 2012 for UK residential lettings. Property Inspect, targeting commercial property and international markets, followed in 2015. The portfolio now includes Host Inspect for short-term rentals and Property Deck, a free GDPR-compliant CRM. Property Inspect counts Amazon and Airbnb among its clients.

The platform reports more than 150,000 users and over 3.4 million property reports delivered. The company says it has a team of 20 full-time staff on the flagship product, though PitchBook records 31 employees for Radweb as a whole, a difference likely explained by headcount across the parent company’s other products. Self-reported corporate customer retention sits at 85% over seven years. None of these figures have been independently verified. Industry awards offer some external signal: Best EA Supplier Awards 2025 (Best Supplier Large), ESTAS 2024 (Best in Sector), and HMO Awards (Best Technology Provider).

Funding and Growth Model

Inventory Base has not raised traditional venture capital. Tracxn lists the company as unfunded. The only recorded external involvement is Radweb’s acceptance into REACH UK in 2021, the proptech accelerator created by Second Century Ventures (the strategic investment arm of the US National Association of Realtors) in partnership with NAEA Propertymark. Crunchbase records a single seed round with no disclosed amount.

That bootstrapped profile carries trade-offs. No dilution and full founder control, but constrained product development resources. Plentific, the London-based property operations platform, raised $100 million in 2022. Fixflo, which provides repairs and maintenance reporting software to letting agents, was acquired by German proptech group Aareon. Staying self-funded against those benchmarks is either a constraint or a moat.

How Inventory Base Works

The platform covers the full tenancy inspection lifecycle. Clerks use the iOS or Android app to complete reports on-site, working offline if needed, then sync to the cloud. On-site, they can dictate notes rather than type, capture photos in rapid succession without leaving the report screen, and shoot 360-degree photography for full-room documentation. The desktop dashboard handles scheduling, digital signatures, branded templates, and client portals.

Report types span inventories, check-ins, check-outs, midterm inspections, void inspections, and compliance assessments including HHSRS reports, Legionella risk assessments, and fire safety documentation. Workstreams, a built-in supplier marketplace, lets agents post inspection jobs to vetted local clerks and also handles gas safety, electrical safety, and EPC certificates.

Pricing starts at £35 per month for a single user with unlimited reports. The jump to Team at £75 per month gets five users and 500 properties. Pro, at £349 per month, unlocks 10 users, 1,000 properties, and the full advanced module suite. That gap between £75 and £349 suggests the company is betting its power features can command enterprise-adjacent pricing. Add-ons include white-label branding (from £200 per month), Workstreams fees (5% plus 25p per transaction), and human audio transcription (from 35p per minute). BaseAI is a separate credit-based add-on. No contracts. 14-day free trial on all plans.

Inventory Base and the Regulatory Tailwind

Phase 1 of the Renters’ Rights Act took effect on 1 May 2026, abolishing Section 21 “no-fault” evictions and introducing new property condition obligations. Awaab’s Law, extending to the private rented sector, imposes strict timescales for investigating and remediating hazards. The planned Decent Homes Standard will require documentary evidence that properties meet minimum condition thresholds.

For letting agents, this means inspection frequency and documentation standards are increasing materially. The platform positions itself as the compliance infrastructure for this shift, with timestamped audit trails, digital signatures, and evidence bundles designed for dispute resolution and regulatory scrutiny. The company has also pushed into sales-side transactions, supporting Propertymark’s Property Information Questionnaire and the BASPI framework for front-loading material information at the point of listing.

BaseAI: The Inventory Base AI Bet

BaseAI launched in mid-2025. It analyses inspection photos and field notes to auto-generate descriptions, condition assessments, and executive summaries. In practice, a clerk photographs a bathroom ceiling showing discolouration, and BaseAI returns a condition description, flags potential damp risk, and suggests a maintenance follow-up action. A transcription feature, currently in beta, converts spoken field notes into structured report text.

The company claims BaseAI reduces reporting time by up to 80%. Those are self-reported figures. The strategic logic is familiar: use the installed base to train machine learning on a growing dataset of inspection images, then sell the intelligence back as a premium layer. If it works, it shifts the company from a productivity tool to a data platform.

Partnerships and Who Inventory Base Competes With

The platform connects to CRM and property management systems through a public REST API. Named partners include MRI Software (45,000 clients across 170 countries), Alto, Street.co.uk, Fixflo, and Airthings. Radweb holds Propertymark industry supplier status and SOC 2 compliance for Property Inspect.

The competitive space is contested. TouchRight, KPR, and InventoryHive offer competing inspection tools. Broader platforms from Reapit, MRI Software, and Fixflo overlap on specific workflows. At the premium end, companies like Plentific are building integrated property operations platforms that could absorb the inspection function entirely. The company’s advantage is vertical specialisation and a decade of accumulated inspection-specific features.

Where Inventory Base Goes Next

The metric to watch is BaseAI adoption as a percentage of the existing user base. If the AI add-on converts a meaningful share of 150,000 users from flat-rate subscribers into credit-purchasing customers, revenue per user shifts structurally upward. A secondary signal is whether the MRI Software partnership translates into new account growth. MRI has 45,000 clients. Even a small conversion rate would represent a step change.

For agents and property managers evaluating their compliance stack ahead of full Renters’ Rights Act implementation, Inventory Base warrant