Commercial real estate industry platform VTS has raised more than $125 million in a Series E funding led by commercial real estate services giant CBRE Group Inc.
New York-based VTS said CBRE is providing $100 million of capital and will join VTS’ board.
CBRE also will partner with VTS to roll out the VTS platform as the technology platform of choice for its agency leasing and property management teams starting in the U.S.
VTS said the partnership deepens an existing relationship between VTS and CBRE, one its customers.
“Over the past two years, VTS has undergone a transformative evolution, shifting from a single-product company to a multi-product platform that serves every player in the ecosystem—from landlord to broker to tenant,” VTS CEO Nick Romito said in a statement. “This infusion of capital lets us double down there, allowing our customers to offer a completely tailored property experience to their tenants across their entire portfolios.”
VTS said its platform is used by 19 of the 20 largest global asset managers, and more than 300,000 tenant companies are managed throughout the platform, making it the most widely used software in commercial real estate.
“VTS is one of the most highly successful Proptech companies in the history of our sector. Their proprietary technology has redefined how industry professionals lease and manage space,” said CBRE President and CEO Bob Sulentic, “Our investment in VTS is consistent with our strategy of partnering with exceptional companies that bring powerful resources to our clients and our people. We look forward to helping VTS accelerate their growth and to working with them to create a differentiated technology platform for our brokers, building owners, and tenants.”
Other investors in VTS’ Series E round included BentallGreenOak, AmTrust, Brookfield Ventures, and Insight Venture Partners.
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