Brookfield Asset Management has become the latest institution to back property-technology startup VTS.
VTS said itβs Series D fundraising, which received $90m capital, was led by Brookfieldβs technology investment arm and was joined by other new investors including strategic investors and , as well as previous investor Fifth Wall, among others.
Josh Raffaelli a managing director at Brookfield Ventures will join VTSβ board of directors.
Prior to this round, the commercial real estate leasing and asset management platform had raised more than $100m.
The VTS platform manages more than 10bn sqft of commercial real estate and has a user base exceeding 35,000. Its client roster includes Blackstone, Brookfield, GLP, Investment Management, , Boston Properties, Oxford Properties, , and .
VTS said the proceeds from the round will enable the firm to βdeepen its investmentβ in its platform for leasing and asset management domestically and internationally.
The capital will also help accelerate the launch of the only end-to-end commercial real estate leasing marketplace β truva β which will be live later this year, it said.
Raffaelli said VTS has been one of the most impactful technology platforms βweβve incorporated into our organization and we are excited to be playing a part in their futureβ.
Nick Romito, co-founder, and CEO of VTS said: βThis funding will enable us to accelerate the pace at which we build the best technology for commercial real estate landlords, brokers, and tenants, as we arm them with the sophisticated solutions they need to win in a rapidly changing environment.β
Ryan Masiello, co-founder and chief strategy officer, VTS, said: βThis announcement signifies the clear shift thatβs taking place in commercial real estate β never before have we seen the worldβs leading owners playing such a key role in driving transformation in our industry.β
