• Mon. Nov 28th, 2022

VTS Announces Over $125M in Series E Funding Round Led by CBRE

ByWillie M. Evans

Sep 6, 2022

NEW YORK–(BUSINESS WIRE)–VTS, the commercial real estate industry’s leading technology platform that transforms the way strategic decisions are made and executed throughout the asset lifecycle, today announced a Series E funding round totaling over of $125 million. The funding round is led by VTS’ existing client and investor, CBRE Group, Inc. (NYSE: CBRE), the world’s largest commercial real estate investment and services firm, providing $100 million in capital and will join the VTS Board of Directors. Other investors include BentallGreenOak, AmTrust, Brookfield Ventures and Insight Venture Partners, among others.

In addition to its capital investment, CBRE will partner with VTS to deploy the VTS platform, with unique enhancements and integrations, as the technology platform of choice for its agency leasing and management teams. real estate from the United States. This partnership deepens the existing relationship between VTS and CBRE and underscores CBRE’s commitment to giving its real estate brokers and managers a competitive edge through innovative technology.

“Over the past two years, VTS has undergone a transformative evolution from a single-product company to a multi-product platform that serves all players in the ecosystem, from owner to broker to tenant. This capital injection allows us to double down there, enabling our clients to deliver a fully personalized real estate experience to their tenants across all of their portfolios,” said Nick Romito, CEO of VTS. “We look forward to building on our long-standing relationship with CBRE, who share this same vision in providing their staff and clients with technology that delivers a modern, portfolio-focused experience for all asset types.

“VTS is one of the most successful Proptech companies in the history of our industry. Their proprietary technology has redefined the way industry professionals rent and manage space,” said Bob Sulentic, president and CEO of CBRE. “Our investment in VTS aligns with our strategy of partnering with exceptional companies that bring powerful resources to our customers and associates. We look forward to helping VTS accelerate their growth and working with them to create a differentiated technology platform for our brokers, building owners and tenants.

The VTS platform is now used by 19 of the top 20 global asset managers, and more than 300,000 tenant companies are managed across the platform, making it the most widely used software in commercial real estate. In 2021, the VTS platform executed over $31 billion in leases, with over 2 billion square feet of assets added. VTS captures the industry’s largest first-party dataset, delivering real-time insights that fuel faster, more informed decision-making and connections throughout the transaction and asset lifecycle. Today, more than 87,000 office, commercial, industrial and multi-family properties are managed on VTS in more than 40 countries.

“This funding comes at one of the most pivotal times in commercial real estate history,” said Ryan Masiello, Chief Strategy Officer of VTS. “As the industry races to modernize the office experience, the integration of property management and leasing has never been more important and our partnership with CBRE is a concrete example.

“With $80 billion in assets under management, we understand the importance of technology and software to the real estate industry. VTS’ platform and market position to improve leasing and property management in our industry is one of the many reasons we participated in the latest funding round,” said Sonny Kalsi, co-CEO of BentallGreenOak. .

The latest round of funding comes as VTS also recently secured $150 million in debt financing from Canada-based CIBC Innovation Banking, totaling $275 million in new funding. The capital will ensure that VTS continues to accelerate its product innovations, continue to seek strategic acquisitions and attract top talent – ​​the team’s expansion into the US, UK and Canada is a major goal.

VTS has been certified Great Place to Work® two years in a row and was recently recognized as one of Fortune’s Best Workplaces in New York, Fortune’s Best Real Estate Workplaces and Top Rated Cloud Computing Companies. by Glassdoor.

About VTS:

VTS is the commercial real estate industry’s leading technology platform that transforms the way strategic decisions are made and executed throughout the asset lifecycle. In 2013, VTS revolutionized the commercial real estate industry’s rental operations with what is now VTS Lease. Today, the VTS platform is the industry’s largest first-party data source and provides insights and data solutions to all commercial real estate players to power their investment and asset strategy. , leasing and marketing automation, real estate operations and tenant experience.

With the VTS platform, consisting of VTS rental, Rise of the VTS, STM data, and VTS market, every commercial real estate player has real-time market intelligence and execution capabilities to do their job with unparalleled speed and intelligence. VTS is the global leader with over 60% of Class A office space in the United States, and 12 billion square feet of office, retail and industrial space is managed through our platform at scale world. VTS’ user base includes over 45,000 CRE professionals and industry-leading clients such as Blackstone, Brookfield Properties, BXP, CBRE, Hines, JLL, LaSalle Investment Management and Oxford Properties. To learn more about VTS and to see our open roles, visit www.vts.com.

About CBRE Group, Inc.:

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate and investment services company (based on 2021 revenues). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving customers in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; assessment and evaluation; real estate leasing; strategic advice; real estate sales; mortgage services and development services. Please visit our website at www.cbre.com.