Asset management and leasing platform VTS today announced it has closed a $55 million funding round, marking the largest venture funding round in the history of commercial real estate technology.
To date, VTS has raised a total of $84 million in capital, positioning the company as the most well-funded technology company in the industry. This round was led by New York-based venture capital and private equity firm Insight Venture Partners with participation from previous investors OpenView and Trinity Ventures.
The new funding will fuel VTS’s global expansion and product innovation to further solidify VTS as the industry’s standard platform. The capital supports VTS’s mission to build the one commercial real estate ecosystem where landlords and brokers collaborate, streamline workflow, and make real-time decisions with competitive market insights.
“VTS is changing the commercial real estate industry through the use of innovative technology and real-time analytics that empower industry leaders to make smart, data-driven decisions,” said Jeff Horing, Managing Director, Insight Venture Partners. “We are pleased to partner with the company and leadership team at VTS to further accelerate international growth and innovation.”
With more than 2.7 billion square feet of real estate under management, VTS has 80 percent of the top 10 global investment managers on its platform. Following its best quarter, VTS added more of the top landlords and brokers to its platform, including LaSalle Investment Management; RXR Realty; Angelo, Gordon & Co. and more. Additionally, VTS has pioneered the concept of displaying market intelligence alongside both historical and future leasing data by integrating with key data resources like Argus, MRI, S&P Capital IQ, CompStak andiPreo.
“The commercial real estate industry is at a tipping point, and the most successful players in the market are driving a movement to a single platform — that platform is VTS. We’re working together with them to develop the platform the industry’s wanted for a very long time,” said Nick Romito, Co-Founder and CEO, VTS.
“VTS has been able to drive efficiency and profitability for the top commercial real estate players by providing a single platform for the entire industry, much like Bloomberg did for the financial services industry,” said Ryan Masiello, Co-Founder and CRO, VTS.