VTS is a real estate technology company that started as a leasing and asset management platform named View The Space. It helps landlords to manage tenant data and leases. Moreover, VTS assists landlords in market space digitally, also, the company has developed an app for companies and employees to navigate the office space.
The funding round was led by CBRE Group Inc. Among other investors were BentallGreenOak, AmTrust, Brookfield Ventures, and Insight Partners. The money raised will be used for a product offering increase “to offer a completely tailored property experience to [customers’] tenants across their entire portfolios,” VTS CEO Nick Romito. Besides, the company plans to hire more people in Canada, the USA, and the UK.
VTS, New York, USA, was founded by Ryan Masiello and Nick Romito in 2012. In 2019, the company reached unicorn status. As of now, VTS’s product is used in over 87 000 properties around the world. As the popularity of remote work has increased, the question about the future of office occupancy, leasing, and values is being raised. VTS’s tool helps businesses monitor the extent to which employees return to the office. This is an essential indicator in the adoption of hybrid work strategies. “If you see a lease expiring in nine months and occupancy is down 30%, they’re probably not renewing and they’re certainly not expanding,” Nick Romito.