CIBC Innovation Banking acted as lead arranger for a $150 million syndicated debt financing for New York-based VTS, a provider of commercial real estate software. VTS will use the capital to accelerate investments in its strategic product road map, M&A and global market expansion.
VTS’s leasing and asset management software offers landlords and brokers one place to track all of their leases, assets and tenants through an easy-to-use, intuitive platform that empowers commercial real estate professionals to work smarter, not harder.
“VTS’s platform brings innovation to the commercial real estate sector by unlocking critical insights and reporting capabilities,” Caroline Tkatschow, director in CIBC Innovation Banking’s New York office, said. “We are excited to be working with VTS’s management team and support their company’s continued domestic and global growth.”
VTS was founded by real estate professionals who have experienced the challenges facing today’s landlords and brokers first-hand.
“The CIBC Innovation Banking team has provided incredible support to our team at VTS as we continue to expand our business,” Bob Bies, CFO of VTS, said. “We’re grateful for their assistance which will enable our immediate market growth plans and accelerate our product initiatives.”
VTS is also backed by Insight Partners, OpenView, Trinity and Bessemer Venture Partners, among others.