The leasing and asset management platform has acquired US-based PropertyCapsule.
As part of the acquisition, Thomas Byrne, CEO of the marketing automation and prospecting software, will join the VTS team as general manager of retail products and data. Byrne will oversee the strategic direction and delivery of VTS’ retail product offerings.
Landlords use VTS to maximise portfolio performance by transforming their leasing and asset management process to unlock real-time insights, enabling them to convert leads to leases and build informed data-led strategies.
Nick Romito, co-founder and CEO of VTS, said: “VTS is investing heavily in the retail sector and the combination of PropertyCapsule’s strong market traction and the deep experience of the team made this acquisition an obvious decision.”
The acquisition will enable the firm to offer a comprehensive leasing management solution for retail landlords, enabling them to reduce the time from prospecting to store opening.
PropertyCapsule helps landlords to:
- Generate leads through custom-built property search and listing pages
- Automatically build professional marketing materials, customised site plans, and interactive maps inclusive of trade area demographics and centre details
- Create property collections or detailed tour books personalised for each prospect
- Follow-up automatically and share marked-up site plans with prospects
- Identify opportunistic locations with a sophisticated mapping and data platform
Thomas Byrne, CEO of PropertyCapsule said: “Joining forces with VTS puts us in a position to accelerate growth and continue to deliver software that helps retail owners and brokers market and lease their centres to the changing demand in the market.”
In May, VTS raised $90m to launch a global scale-up campaign, in what was believed to be the largest venture financing made for commercial property software.
The funding reportedly brought the value of the business up to $1bn, making it one of the first proptech unicorns, the nickname for privately owned companies valued at $1bn or more.
The VTS platform has a user base of 35,000, with clients including Blackstone, Boston Properties, Brookfield, JLL and CBRE.