AmTrust backs proptech company VTS
VTS announced a Series E funding round totaling over $125 million. The funding round is led by existing VTS customer and investor CBRE Group, a commercial real estate services and investment firm, which is providing $100 million of capital and will join 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 roll out the VTS Platform, with unique enhancements and integrations, as the technology platform of choice for its agency leasing and property management teams starting in the U.S. This partnership deepens the existing relationship between VTS and CBRE and underscores CBRE’s commitment to giving its brokers and property managers a competitive advantage through innovative technology.
“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. 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. We look forward to expanding upon our long-standing relationship with CBRE, which shares this same vision in providing their people and customer base with technology that delivers a modern, portfolio-driven experience across all asset types.” – Nick Romito, CEO of VTS.
The VTS Platform is now used by 19 of the 20 largest global asset managers, and over 300,000 tenant companies are managed throughout the platform, making it the most widely-utilized software in commercial real estate. In 2021, the VTS Platform executed over $31 billion of leases, with over 2 billion square feet of assets added. VTS captures the largest first-party data set in the industry, delivering real-time insights that fuel faster, more informed decision making and connections throughout the deal and asset lifecycle. Today, more than 87,000 office, retail, industrial, and multi-family properties are managed on VTS across 40+ countries.
The latest funding round comes as VTS also recently secured $150 million in debt financing from Canadian-based CIBC Innovation Banking, totaling $275 million in new funding. The capital will ensure that VTS continues to accelerate its product innovations, continue to source strategic acquisitions, and attract top talent – team expansion in the U.S., U.K., and Canada is a major focus.
