In this installment of the REInterview, TRD’s Hiten Samtani sat down with founder and CEO of VTS Nick Romito. He noted the office sector’s reputation as a steady, stable, unsexy source of income, and explained how all that could change.
VTS began as a video-tour company (literally “View the Space”) and is now a cloud-based leasing and portfolio management system that was last valued at over $1 billion. It recently acquired Rise Buildings, an app that tracks the movement of tenants in a building, for $100 million.
While many tech companies lean heavily on flashy rhetoric, Rise Buildings had a real estate background that proved invaluable in an industry that Romito says is “uniquely good at smelling bullcrap.”
Romito discussed not only how Rise Buildings’ data illustrates the needs and preferences of commercial tenants, but how it could be used to create a consistent, lucrative “concierge landlord experience.”
Watch the video above for more.