VTS Celebrates 3 Billion SQ Ft On CRE Lease Management App
VTS, the industry’s leading leasing and asset management application, today announced it closed the first half of 2016 with 3 billion square feet under management. In the first two quarters of this year, 11 top institutional landlords joined VTS in the U.S. and abroad, and 22 existing institutional customers extended their relationships, further cementing the platform’s position as the most widely adopted leasing and asset management platform. These growth milestones follow the company’s $55 million series C funding round in May, the largest venture funding round in the history of commercial real estate technology.
“Today 80 percent of the top 10 global investment managers are on VTS, and more join every quarter. The market is coalescing around VTS as the one platform for the commercial real estate industry, and we take our position as the market leader seriously,” Nick Romito, Co-Founder and CEO of VTS said in a statement. “Our technical team works closely with our customers, continuously developing new products that exceed our customers’ expectations and drive key market players to join our platform.”
In the first half of 2016, VTS grew the number of buildings on its platform by 60 percent, illustrating VTS’s rapid customer expansion. The high level of customer engagement was also highlighted by the platform’s 99 percent customer satisfaction rate since the company’s inception.
“The U.K. commercial real estate market has been in dire need of a single, standard platform that allows everyone in the industry to collaborate. In the past year, two companies entered the U.K., both claiming to offer this platform. After carefully vetting both options, VTS stood out as the clear winner, with a product used by far more owners and brokers than its competition,” said Colin Grant, Principal at Mercer Real Estate Partners in London.
“VTS offers a unique mix of industry and technical expertise; something you rarely see from a technology provider in our space,” Valla Brown, Director of Asset Management at DRA Advisors LLC said in a statement. “This was quickly apparent during our pilot with VTS. The platform seamlessly integrates into our workflow, and combines the tenant and historical market data we need to close bigger deals, faster. With these results, we quickly decided to expand our relationship with VTS across our entire portfolio.”
The platform also extended its offerings to a larger segment of the commercial real estate industry this year, launching tools specifically catered to tenant rep brokers and retail owners and brokers. With the addition of the tenant rep tool, VTS now allows both the supply and demand sides of commercial real estate to collaborate efficiently on one platform. Furthermore, by integrating with key data resources like Argus, Yardi Voyager, MRI, S&P Capital IQ, CompStak, and iPreo, VTS offered the industry’s first platform for analyzing market intelligence alongside historical and future leasing data.
Read the full release at MarketWired
