VTS raises $55M in Series C at $200M valuationCloud-based CRE platform scores one of the biggest-ever venture rounds in real estate tech
VTS founders Nick Romito, Ryan Masiello and Karl Baum, and a screen shot of the product In one of commercial real estate technology’s biggest-ever fundraising efforts, VTS raised $55 million in a Series C round led by Insight Venture Partners. The round values the cloud-based leasing and portfolio management platform at about $200 million, sources familiar with VTS told The Real Deal, and makes it one of the industry’s richest startups. “This is not a consumer market play. It’s a vertical fast play,” said Ryan Masiello, VTS’ chief revenue officer and co-founder, referring to the winner-take-all environment that enterprise software companies operate in. “To successfully raise a Series C, it’s really, really hard,” and needs investors to see a track record of revenue growth and market dominance, he added.