VTS (ex Hightower) Strengths, Domain Expertise, and Key Differentiators
Founded with a mission to revolutionize commercial real estate through innovation, VTS is the industry's leading leasing and asset management platform. By centralizing all of their critical data and workflows in one place, VTS empowers landlords and brokers to better attract, convert and retain their most valuable asset, tenants.
Over 6.5 billion square feet is managed on the VTS platform by a user base of 35,000. The firm's client roster comprises global commercial real estate leaders including Boston Properties, Beacon Capital Partners, Equity Office, LaSalle Investment Management, Hines, JLL and CBRE.
VTS (ex Hightower) Recent Developments
In January 2020 VTS introduced VTS Retail, the industry’s only leasing platform designed specifically for the retail sector, solving major issues retail landlords have in their leasing process. Unlike any existing offering for retail landlords, VTS Retail transforms the leasing process by enabling retail landlords to significantly reduce the time from prospect to tenant move-in and proactively manage shopping center strategy and risk.
In January 2019 VTS, launched the next generation of the VTS platform, VTS 3. This major release of VTS includes powerful all-new business intelligence capabilities, giving landlords the ability to unlock insights from their portfolios to convert more leads to leases and build an informed, data-led asset strategy.
VTS has already transformed commercial real estate by automating the leasing and asset management workflow and giving landlords a place to track information and accelerate deals. Now with VTS 3, the next generation of VTS software elevates the leasing and asset management experience for landlords by delivering a platform that powers strategic business decisions and converts, even more, leads to leases, faster than ever before.
The launch of VTS 3 follows the announcement of VTS MarketView, the commercial real estate industry's first real-time market benchmarking and analytics, and the VTS marketplace, which will provide the first end-to-end platform for landlords, brokers, tenant reps, and tenants to complete leases online. As part of the next generation leasing and asset management platform, MarketView and the VTS marketplace will be built on top of this latest version of VTS software.
VTS (ex Hightower) Mergers and Acquisitions (M&A) Activities
In October 2019 VTS acquired PropertyCapsule, the marketing automation and prospecting software used by more than 50% of the top 100 retail landlords in North America, for an undisclosed sum.
In November 2016 VTS and Hightower completed the merger agreement under which the companies will come together to form the commercial real estate industry's leading leasing and asset management platform. Under this agreement, VTS and Hightower will combine under VTS.
The strongest features from VTS and Hightower will be integrated into one platform, bringing the best of both products together for customers. With a collective customer base of over 5 billion square feet, the company can make an even greater impact on the $15 trillion commercial real estate industry.
VTS (ex Hightower) Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying VTS (ex Hightower) applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of VTS (ex Hightower) and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified VTS Lease customers.
VTS (ex Hightower) Overview
Ownership: - Trinity Ventures, Insight Venture Partners, OpenView Venture Partners, Fifth Wall, Camber Creek
Number of Employees: 188
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Construction, Real Estate, Consumer Packaged Goods, Distribution, Healthcare, Manufacturing, Professional Services, Retail,
VTS (ex Hightower) Key Enterprise and Cloud Applications
VTS (ex Hightower) Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
VTS (ex Hightower) Revenue Breakdown By Type, $M:
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VTS (ex Hightower) Enterprise Applications Revenues By Functional Markets, $M:
VTS (ex Hightower) Enterprise Applications Revenues By Verticals, $M:
VTS (ex Hightower) Revenues By Region, $M
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VTS (ex Hightower) Direct vs Indirect sales
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VTS (ex Hightower) Customers - Breakdown by Geo, Size, Vertical and Product
No. of VTS (ex Hightower) Customers: 35000
No. of VTS (ex Hightower) Enterprise Applications Customers: 35000
No. of VTS (ex Hightower) Cloud Customers: 35000
No. of VTS (ex Hightower) Cloud Subscribers: 35000
Among their customers are, Rexford Industrial, Landsec, Granite Properties, MRP Realty, Boston Properties, Hartz Mountain Industries, Merrit Properties, Blackstone, Denholtz Associates, Nicola Crosby Real Estate, Kennedy Wilson Europe, Arcis Investments, National Real Estate Advisors, The Ardent Companies, Tritower Financial Group, JLL, CBRE, and many others.
VTS (ex Hightower) Market Opportunities, M&A and Geo Expansions
In May 2019 VTS completed a $90 million Series D funding round, believed to be the largest venture financing in the history of commercial real estate software. The round is led by Brookfield Ventures, the technology investment arm of Brookfield Asset Management, a VTS customer. Other new investors in the round include strategic investors (and VTS customers) GLP and Tishman Speyer, as well as previous investor Fifth Wall, among others. Prior to this round, VTS had raised more than $100 million.
VTS and Hightower have become one under the name VTS to form the industry's leading leasing and asset management platform.
VTS (ex Hightower) Risks and Challenges
Integration of the VTS with Hightower will be a challenge for VTS in the upcoming period.
VTS (ex Hightower) Ecosystem, Partners, Resellers and SI
In August 2019 VTS expanded its Canadian operations with an engineering hub in Toronto.
The New York-based company plans to hire at least 50 staff by the end of 2020, taking advantage of the city’s deep pool of engineering talent and strong commercial real-estate customer base, according to Nick Romito, founder, and chief executive officer of VTS. The company may also expand to Vancouver and Montreal.
In 2018, The Airport Industrial Property Unit Trust (AIPUT) has formed a partnership with US proptech platform VTS to centralise its data and improve portfolio performance. In November 2018 Stenprop has partnered with VTS to implement VTS to manage its entire UK industrial portfolio. Stenprop is using the leasing and asset management platform to manage all tenant negotiations enabling it to make more informed business decisions faster and at scale, and ultimately deliver increased flexibility to tenants and higher returns to shareholders.
Stenprop is using the platform to manage all occupier activity across the UK, from Aberdeen to Dover, across all of its core assets including Compass Industrial Park in Speke, Liverpool. The asset is a 365,000 sq ft estate comprising modern, recently-refurbished units spread over three zones: East, West and Network Centre. The VTS platform is enabling the Stenprop team to collect and analyze tenant data to understand which parts of the process work well for customers and where improvements are needed, enhancing the experience for tenants, and accelerating overall transaction cycles.
VTS (ex Hightower) Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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