When it comes to commercial real estate, leasing and portfolio management is still one of those areas that has yet to get the proper cloud-tech treatment. Newly funded VTS is looking to change that.
The New York-based startup, founded in 2011 as View the Space, is sort of like a Bloomberg Terminal for real estate investors to track and manage their portfolios, explained CEO Nick Romito. Venture capitalists came knocking, prompting VTS to negotiate a $55 million Series C round.
“We actually weren’t in the market,” Romito told the New York Business Journal on Wednesday. “We get approached by VCs every day, but the founder of Insight reached out and we took the meeting. Their mindset was a mirror image of ours and so we said ‘lets pull a trigger.'”