VTS Revenue, Valuation, Funding & Investors
VTS is valued at $1.6B as of September 2022, a 16.0x multiple on its last reported $100M revenue.
Last VTS valuation
$1.6B
Series E · Sep 2022
Last VTS funding round
$125M
Series E · Sep 2022
VTS revenue
$100M
Series E · Sep 2022
Key investors in VTS
Trinity Ventures
Insight Partners
Fifth Wall
OpenView
Jaws Ventures
Brookfield Growth
About VTS
VTS is a New York-headquartered commercial real estate platform that centralizes leasing, asset management, and tenant data workflows. The software connects landlords, brokers, and tenants with tools for deal tracking and portfolio analytics. VTS serves clients including Boston Properties, Hines, JLL, CBRE, and LaSalle Investment Management. Founded in 2012, the company acquired Rise in 2021 to expand its data marketplace.
Founded
2012
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Sep 2022)
Valuation
$1.6B (Sep 2022)
VTS Valuation
VTS is currently valued at $1.6B, based on its Series E in September 2022.
The $125M round included BentallGreenOak, Bessemer Venture Partners, AmTrust Financial Servs, Insight Partners and Brookfield Growth.
VTS's valuation has grown 46x from $35M at its Series A in January 2015 to $1.6B in September 2022, across 5 priced rounds.
VTS valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2022 | Series E | $1.6B | 16.0x |
| May 2019 | Series D | $1B | - |
| May 2016 | Series C | $200M | 14.3x |
| Jul 2015 | Series B | $100M | 1.0x |
| Jan 2015 | Series A | $35M | - |
VTS Revenue
VTS's latest recorded revenue is $100M, as of its Series E in September 2022. At a $1.6B valuation, that implies a 16.0x revenue multiple.
Revenue moved from $100M in July 2015 to $100M in September 2022, while the revenue multiple moved from 1.0x to 16.0x.
VTS revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2022 | $100M | $1.6B | 16.0x | Series E |
| May 2016 | $14M | $200M | 14.3x | Series C |
| Jul 2015 | $100M | $100M | 1.0x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
VTS Funding History
VTS has raised a total of $303M across 6 funding rounds.
VTS's first fundraising round was a $1M seed round in May 2013. The most recent completed round was a $125M Series E in September 2022.
VTS funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2022 | Series E | BentallGreenOak; Bessemer Venture Partners; AmTrust Financial Servs; Insight Partners; Brookfield Growth | $125M | $1.6B | VTS is the commercial real estate industry's technology platform that unifies owners, operators, brokers, and tenants to capitalize on opportunities in property data, offering leasing, asset management, and tenant experience solutions like VTS Activate. In September 2022, VTS closed a $125 million Series E funding round led by CBRE (noting the listed investors align with this round's participants including Bessemer Venture Partners and Insight Partners), achieving a $1.6 billion pre-money valuation and bringing total capital raised to $462.4 million including debt. The round followed a $150 million debt financing in May 2022 for product roadmap, M&A, and expansion, positioning VTS as the most well-capitalized PropTech company of its vintage. VTS generated more than $100 million in subscription revenue in 2022, with subscription prices starting at $20K yearly; an estimate placed annual revenue at $1.3 billion, though subscription figures are more directly tied to core SaaS model. The company reported over 200% year-over-year ARR growth as of February 2022, serving over 130 customers across sectors like banking, healthcare, retail, and franchises including DraftKings and Bonobos, with VTS Activate reaching over 1.5 million users across 29,000 tenant companies in 21 countries. VTS debuted on the 2023 Inc. 5000 list for rapid growth, following acquisitions of Rise Buildings and Lane Technologies in 2021 to enter tenant experience. In the 2022 PropTech downturn, with many firms laying off staff and public real estate tech indices dropping over 80%, VTS focused on core services, client retention, and upsell opportunities amid market uncertainty favoring established vendors. |
| May 2019 | Series D | Brookfield Growth (lead); Jaws Ventures; Fifth Wall; Tishman Speyer; Rudin Ventures; Spencer Rascoff | $90M | $1B | VTS, a New York-based proptech company founded in 2012 (originally as View The Space), provides a SaaS platform for commercial real estate leasing and asset management, helping landlords and brokers optimize processes, convert leads to leases 41% faster, and access benchmarking via MarketView. The $90 million Series D round on May 7, 2019, was led by Brookfield Ventures (technology arm of Brookfield Asset Management, a VTS customer), with new investors GLP and Tishman Speyer (also customers), alongside Fifth Wall and others including Jaws Ventures, Rudin Ventures, and Spencer Rascoff. This brought total funding to approximately $187-197 million, marking the largest venture financing in CRE software history and achieving unicorn status with a $1 billion valuation per Wall Street Journal reports. Proceeds funded platform expansion domestically and internationally, plus launch of Truva, an end-to-end CRE leasing marketplace. At the time, VTS managed over 10 billion square feet across 700+ landlords globally. The company was break-even, with conservative hiring under 200 employees. In 2018, revenue reportedly grew 70% YoY per CMO. Post-round traction included 50% of U.S. office buildings on VTS by end-2019, managing 70,000+ properties with $85 billion in leases executed across 40 countries. Investors like Brookfield highlighted alignment with customers, with a Brookfield executive joining the board. VTS had merged with competitor Hightower post-Series C ($55M two years prior). The CRE market exceeds $15 trillion in the U.S., positioning VTS as a leader among ~20 proptech unicorns. |
| May 2016 | Series C | Insight Partners (lead); OpenView; Fifth Wall; Trinity Ventures | $55M | $200M | VTS (now known as View The Space) is a cloud-based commercial real estate platform providing asset management, leasing, and portfolio management tools for landlords, brokers, and investors. It enables real-time analytics, market intelligence integration with sources like Argus and CompStak, and collaboration to streamline workflows and decision-making, akin to Bloomberg for financial services. By May 2016, VTS managed over 2.7 billion square feet of real estate, with 80% of the top 10 global investment managers as clients, including LaSalle Investment Management, RXR Realty, SL Green Realty, CBRE, and JLL. On May 4, 2016, VTS closed a $55 million Series C funding round led by Insight Venture Partners, with participation from existing investors OpenView and Trinity Ventures. This brought total funding to $84 million, marking the largest venture round in commercial real estate technology history at the time and positioning VTS as the most well-funded tech company in the sector. The round valued the company at approximately $200 million post-money, according to sources familiar with the deal reported by The Real Deal. Insiders projected a 2016 revenue target of $14 million, primarily from subscription fees, indicating strong growth as the company was reportedly meeting or exceeding targets. Proceeds from the Series C were earmarked for global expansion, product innovation, and solidifying VTS as the industry standard platform. The funding supported doubling in size annually and international growth. Compared to competitors like Hightower (pre-money valuation of $51.3 million in Series B, May 2015), VTS commanded a significantly higher valuation. Insight's Jason Ewell joined the board, reinforcing strategic partnerships for long-term vision in a digitizing CRE market. |
| Jul 2015 | Series B | OpenView (lead); Camber Creek; Jaws Ventures; Work-Bench; Trinity Ventures | $21M | $100M | VTS, formerly View The Space, is a New York-based commercial real estate (CRE) asset management and leasing platform that provides real-time tracking, analytics, and data tools for landlords, brokers, and owners to digitize leasing processes, identify trends, and manage portfolios previously reliant on spreadsheets. The platform manages over 1.5 billion square feet of CRE across major US and international markets, serving major clients like Blackstone, Boston Properties, JPMorgan, TIAA-CREF, SL Green Realty, RXR Realty, CBRE, JLL, and LaSalle Investment Management. On July 15, 2015, VTS raised $21 million in a Series B funding round led by OpenView Venture Partners, with participation from existing investors including Trinity Ventures, Camber Creek, Jaws Ventures, and Work-Bench, bringing total funding to $32-34 million. This marked the largest investment ever in a CRE software company at the time, valuing VTS at around $100 million post-money according to sources. Funds were earmarked for product development, customer service expansion, and scaling operations to solidify its market-leading position in the $12 trillion CRE industry. The investment highlighted VTS's rapid adoption as the de facto standard in CRE tech, driven by network effects and validation from top industry players. OpenView's managing partner Adam Marcus joined the board, emphasizing VTS's category leadership in vertical SaaS akin to prior investments in healthcare and education tech. Subsequent rounds included a $55 million Series C in 2016 led by Insight Partners at $200 million valuation with $14 million revenue target, and later raises like $90 million Series D in 2019 led by Brookfield Ventures. |
| Jan 2015 | Series A | Blackstone; Greg Waldorf; Nicholas Romito; Trinity Ventures | $11M | $35M | VTS (formerly View The Space) is a commercial real estate asset management and leasing platform that enables landlords and brokers to digitize and manage their leasing and portfolio operations through real-time tracking and analytics software. The platform is built specifically for the commercial real estate industry and helps users manage deal activity, identify trends, and quantify portfolio performance from a unified interface. In January 2015, Blackstone Group made its first-ever investment in a real estate technology startup, investing $3.3 million in VTS at a valuation of approximately $35 million. This strategic investment came from Blackstone's real estate private equity funds and included plans for Blackstone to migrate its own office assets onto the VTS platform. At the time of the investment, VTS was hosting approximately one billion square feet of office space on behalf of landlords and brokerages, including over 100 million square feet in New York City, and had grown from 15 to 47 employees across five major markets in less than 12 months with customer growth tracking over 700 percent. The company's customer base included major real estate firms such as TIAA-CREF and Jones Lang LaSalle alongside Blackstone itself. |
| May 2013 | Seed | 500 Global | $1M | - | - |
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Who has invested in VTS?
18 investors have backed VTS across its funding rounds, including Trinity Ventures, Insight Partners, Fifth Wall, OpenView, Jaws Ventures and Brookfield Growth.
Lead investors include Brookfield Growth, Insight Partners and OpenView.
VTS Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Participant | Jan 2015 | |
| Boston, MA | 2 | Lead | Jul 2015 | |
| Miami, FL | 2 | Participant | Jul 2015 | |
| Los Angeles, CA | 2 | Participant | May 2016 | |
| New York City, NY | 2 | Lead | May 2016 | |
| San Francisco, CA | 2 | Lead | May 2019 | |
| Washington, DC | 1 | Participant | Jul 2015 | |
 Toronto | 1 | Participant | Sep 2022 | |
| New York City, NY | 1 | Participant | Jul 2015 | |
| New York City, NY | 1 | Participant | Jan 2015 | |
| San Francisco, CA | 1 | Participant | Sep 2022 | |
| New York City, NY | 1 | Participant | Sep 2022 | |
| New York City, NY | 1 | Participant | May 2019 | |
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Start Free TrialAcquisitions by VTS
VTS has acquired 4 companies to date.
Last acquisition by VTS was on October 19th 2021. VTS acquired Lane for $200M.
Latest Acquisitions by VTS
| Description | - | Rise Buildings is a New York-headquartered property management platform that handles daily building operations for staff and occupants through a unified app. It facilitates maintenance requests, amenity bookings, visitor management, and community feedback to boost resident satisfaction and retention rates. Serving multifamily residential properties across the United States, the platform integrates with hardware like smart locks and sensors, supporting over 100,000 units with analytics for property managers. | Property Capsule is a San Diego-headquartered cloud-based platform for managing property portfolios. Users centralize data including site plans, tenant lists, photographs, maps, and demographics in a single repository. The web interface enables updates from anywhere, with presentation modules tailored for iPads, mobiles, laptops, tradeshows, and websites. Property Capsule serves real estate firms handling office buildings and retail centers across California, automating information sharing for brokers and investors. | Hightower is a commercial real estate leasing platform that streamlines workflows for brokers and property owners. The New York-based tool offers deal tracking, lease abstraction, asset management, and compliance reporting to boost productivity in office, retail, and industrial markets. |
| HQ Country | | | | |
| HQ City | - | Chicago, IL | San Diego, CA | New York City, NY |
| Deal Date | 19 Oct 2021 | 9 Mar 2021 | 16 Oct 2019 | 29 Nov 2016 |
| Valuation | $200M | $100M | $20M | $300M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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VTS Competitors
VTS competitors include listed companies like Porch Group and EverCommerce, and private ones like Qualia, Vantaca, HomeLight and Placer.ai.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $65M | - | $1.5B | 22.9x | |
| Wilmington, DE | Private | - | - | $1.3B | - | |
| Phoenix, AZ | Private | $300M | - | $1.7B | 5.7x | |
| San Francisco, CA | Private | $100M | - | $1.5B | 15.0x | |
| United States | Publicly listed | $510M | $79M | $1.8B | 4.1x | |
| United States | Publicly listed | $589M | $128M | $1.4B | 2.9x |
VTS Public Comps
VTS is still privately-owned, but its public comps include Amplitude, Porch Group, EverCommerce, Planisware, Innodata, Red Violet, Clarivate, Business-intelligence, DoubleVerify and Altus Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $343M | ($76M) | 4.6x | 4.1x | (21.1x) | 98.8x | |||
| $510M | $79M | 4.0x | 4.1x | 25.7x | 18.4x | |||
| $589M | $128M | 3.0x | 2.9x | 13.7x | 9.5x | |||
| $228M | $78M | 7.3x | 6.7x | 21.5x | 18.4x | |||
| $252M | $47M | 6.8x | 5.2x | 36.6x | 22.7x | |||
| $90M | $24M | 13.2x | 11.7x | 50.0x | 31.7x | |||
| $2.5B | $829M | 2.1x | 2.2x | 6.3x | 5.3x | |||
| $389M | $54M | 6.6x | 5.9x | 47.7x | - | |||
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Common questions about VTS
| When was VTS founded? | VTS was founded in 2012. |
| Where is VTS headquartered? | VTS is headquartered in New York City, NY, United States. |
| Is VTS publicly listed? | No, VTS is a private, VC-backed company. |
| What is VTS's valuation? | VTS was last valued at $1.6B in its Series E in September 2022. |
| How much funding has VTS raised? | VTS has raised $303M across 6 funding rounds. |
| What was VTS's last funding round? | VTS's last funding round was a $125M Series E in September 2022. |
| Who are VTS's investors? | VTS's investors include Trinity Ventures, OpenView, Jaws Ventures, Fifth Wall, Insight Partners, Brookfield Growth, Camber Creek, BentallGreenOak, Work-Bench, Blackstone and 8 others. |
| What is VTS's revenue? | VTS's latest recorded revenue is $100M (September 2022). |
| What is VTS's revenue multiple? | VTS's latest valuation implies a 16.0x revenue multiple ($1.6B valuation on $100M of revenue). |
| Which companies are comparable to VTS? | Companies comparable to VTS include Qualia, Vantaca, HomeLight, Placer.ai, Porch Group and EverCommerce. |
| How many companies has VTS acquired? | VTS has acquired 4 companies, including Lane, Rise Buildings, Property Capsule and Hightower. |
| What was the largest acquisition by VTS? | The $300M acquisition of Hightower in November 2016 is the largest acquisition VTS has made to date. |
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