This major investment in Toronto demonstrates VTS' commitment to the Canadian market.
Toronto, Canada - August 12, 2019: VTS, the commercial real estate industry’s (CRE) leading leasing and asset management platform, announced today the opening of its new product development center in Toronto. The Toronto location will serve as the firm’s first major product development center outside of New York, enabling VTS to access Toronto’s pool of highly skilled product and engineering talent as the startup looks to continue its rapid growth.
VTS is actively hiring for the office, which is located in Downtown Toronto and opened in June. The company plans to grow the Toronto development team to at least 50 people by the end of 2020.
“Our second product development center is a critical milestone for VTS. Toronto was at the top of our list of potential locations thanks to the unparalleled quality of tech talent in the city,” said Nick Romito, co-founder and CEO of VTS and recently named EY 2019 Entrepreneur of the Year. “This also allows us to be close to our rapidly expanding Canadian customer base. Toronto has an impressive reputation of fostering tech innovation, and I’m incredibly excited for VTS to officially be a part of this community.”
The opening of the product development center comes on the heels of VTS’ historic $90M Series D funding round, led by Toronto-based Brookfield Ventures and believed to be the largest funding round in the history of commercial real estate software. The Toronto development center will focus on innovative new product investments including truva.com and VTS 3, and will accelerate the launch of truva in the Toronto market, a top priority for VTS.
VTS entered the Canadian market in 2015, and already, more than 400 million square feet of commercial office space in Canada is managed on VTS by major Canadian commercial real estate companies, including Oxford Properties Group and Brookfield Properties.
“VTS has been one of the most impactful technology platforms we’ve incorporated into our organization. We’re excited for the company to invest in the Canadian market and broaden its ability to solve some of the most complex challenges our industry faces,” said Michael Turner, President, Oxford Properties Group.
“The Toronto market is a well-established tech hub with a deep base of talent including specialists in data science and artificial intelligence. This was a key component in our decision to establish our product development center here,” said Niall Smart, co-founder and Senior Vice President of Engineering for VTS. “We are deeply committed to developing a strong presence in Toronto – the innovation we will do here will be critical to VTS’ continued growth.”
In addition to its new Toronto development center, VTS has headquarters in New York City and London. More than 10 billion square feet of office, retail and industrial assets are managed on VTS globally by more than 700 global, regional and local landlords. The firm was recently named one of Crain’s New York Business’ 2018 Best Places to Work in New York City.
VTS is the commercial real estate industry’s leading leasing and asset management platform. Landlords use VTS to maximize portfolio performance by transforming their leasing and asset management process and unlocking real-time insights – enabling them to convert leads to leases 41% faster and build data-led strategies. Brokers can manage their deal pipeline and get tenants into empty spaces faster, collaborate across teams and work easily with their landlord clients using VTS for Brokers.
The VTS platform manages more than 10 billion square feet of commercial real estate, has a user base exceeding 35,000 and boasts an impressive client roster including global leaders such as Blackstone, Brookfield, GLP, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties, JLL, and CBRE. To learn more about VTS, and to see our open roles, visit www.vts.com.