Company:VTS (View The Space, Inc.)

From HandWiki
VTS
TypePrivate
IndustrySoftware
Founded2012; 12 years ago (2012) in New York, United States[1]
Founder
  • Nick Romito
  • Ryan Masiello
Headquarters
New York City
,
United States
Number of employees
500[2]
Websitewww.vts.com

VTS is a software company that provides customer relationship management (CRM), marketing and analytics software specifically for the commercial real estate industry. They also release the VTS Office Demand Index (VODI)[3] that is a leading indicator for office demand in the US and UK.

History

VTS was founded in 2012 by Nick Romito and Ryan Masiello in New York City. Romito and Masiello, childhood friends, grew up in New Jersey and both had careers in commercial real estate prior to founding VTS. Romito began his professional career at Murray Hill Properties and spent over six years in the industry across two firms. Masiello started out at Cushman & Wakefield. Then moving onto to work at Jones Lang LaSalle, advising landlords and tenants in the Manhattan office market. VTS’s first product was an automated video feed to show potential tenants listings via an email and website. It saw early traction by assisting landlords and brokers in qualifying leads before giving tours.[4]

In 2015 Blackstone Group LP’s real estate group invested $3.3 million to buy a stake in VTS, then a three-year-old tech company, valuing the firm at close to $35 million.[5]

In 2016 VTS merged with another commercial real estate software company, Hightower Inc., in an all-stock transaction.[6]

In 2018 VTS released it's data product, which amalgamated various data feeds across its platform to offer commercial real estate professionals views into macro trends across the industry.[7]

In 2021 VTS acquired Lane and Rise Buildings, two software companies building tools for workplace and tenant experience, respectively. The acquisitions coincided with the post-pandemic struggle of commercial landlords to revive office occupancy to pre-pandemic levels.[8]

In 2022 CBRE invested over $100M in their Series E round, valuing the company at close to $1.6B post-money.[9]

Products

VTS Lease

VTS Lease is a CRM solution allowing users to manage deals, leases, and tenants. VTS Lease offers retention management, lease activity reports, deal momentum tracking, deal approval management, and deal connection alerts, among other features.[10]

VTS Market

VTS Market is the digital marketing offering in the VTS product suite that streamlines marketing and leasing workflows from listing creation to executing the lease and analytics. VTS Market offers listing pages, channel management, micro-sites, automated tracking, and advanced analytics to see who is viewing content.[11]

VTS Activate

VTS Activate enables CRE owners and operators to create a fully integrated office experience, providing tenants with the capability to manage their day-to-day needs and activity within a building on one centralized app. VTS Activate also has ‘one-app, access anywhere’ functionality – opening a landlord’s entire portfolio to tenants by providing them the capability to choose where they want to work.[12]

VTS Data

VTS Data is a data as a service solution giving users data on wider market and submarket real estate trends such as, average base rents, tour activity, what kinds of tenants are looking for spaces and average transaction times for different industries.[13] VTS uses state of the art artificial intelligence to unify disparate data sources to surface these trends.


References

  1. ↑ "CBRE leads 125 million VTS funding round". Wall Street Journal. Published September 6 2022. Retrieved February 11, 2024
  2. ↑ "LinkedIn Company Page". Retrieved February 11, 2024
  3. ↑ "New Setback for Big Cities as Return to the Office Fades". Wall Street Journal. Published December 1, 2020. Retrieved February 11, 2024
  4. ↑ "Contrary Research: Memo VTS". Contrary Research. Published June 8, 2023. Retrieved February 11, 2024
  5. ↑ "Blackstone Real Esatte Unit Investing In Tech Startup". Wall Street Journal. Published January 14, 2015. Retrieved February 11, 2024
  6. ↑ "Real Estate Tech Companies VTS and Hightower to Merge". Wall Street Journal. Published November 29, 2016. Retrieved February 11, 2024
  7. ↑ "VTS Plans Tool to Help Commercial Real Estate Clients Track Market Trends". Wall Street Journal. Published June 18, 2018. Retrieved February 11, 2024
  8. ↑ "VTS’s $200M Acquisition Of Lane Sparks A Race To Deliver The Most Comprehensive Tenant Experience Platform". Verdantix. Published October 28, 2021. Retrieved February 11, 2024
  9. ↑ "CBRE’s Vikram Kohli On Big Real Estate’s Big Proptech Moves". Commercial Observer. Published November 29, 2022. Retrieved February 11, 2024
  10. ↑ "Contrary Research: Memo VTS". Contrary Research. Published June 8, 2023. Retrieved February 11, 2024
  11. ↑ "Contrary Research: Memo VTS". Contrary Research. Published June 8, 2023. Retrieved February 11, 2024
  12. ↑ "VTS Launches Revolutionary New Tenant Experience Technology, VTS Activate, Transforming Workplace Management and Building Operations". Business Wire. Published May 11, 2023. Retrieved February 11, 2024
  13. ↑ "VTS Plans Tool to Help Commercial Real Estate Clients Track Market Trends". Wall Street Journal. Published June 18, 2018. Retrieved February 11, 2024


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