VTS, a commercial real estate technology platform that aims to transform how strategic decisions are made and across the asset lifecycle, has raised $125m in Series E funding.
The round was led by existing VTS customer and investor CBRE Group. Other investors included BentallGreenOak, AmTrust, Brookfield Ventures, and Insight Venture Partners, among others.
In 2013, VTS launched the VTS Platform, a first-party data source. The PropTech unicornÂ said its platform delivers data insights and solutions for everyone in commercial real estate to fuel their investment and asset strategy, leasing and marketing automation, property operations, and tenant experience.
In addition to its capital investment, CBRE will partner with VTS to roll out the VTS Platform, with additional enhancements and integrations. The roll-out will begin in the US.
This partnership, according to VTS, deepens the existing relationship between VTS and CBRE and underscores CBREâ€™s commitment to giving its brokers and property managers a competitive advantage through innovative technology.
This funding round comes as VTS also recently secured $150m in debt financing from Canadian-based CIBC Innovation Banking, totalling $275m in new funding.
The PropTech unicorn said the capital will ensure that it continues to accelerate its product innovations, source strategic acquisitions, and attract top talent.
Nick Romito, CEO of VTS, said, â€œOver 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 ecosystemâ€”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.
â€œWe 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.â€
Recently, Arizona-based property technology company Stoa raised $100m less than a year after its previous $100m securitisation.
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