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VTS acquires Rise Buildings

(Credit: VTS)

VTS has acquired fellow PropTech startup Rise Buildings, which provides an app to control operations and tenant experience in properties, for around $100 million. Rise’s mobile app is already used in over 130 million SF of office space.

  • Why it matters: VTS, which provides online tools for managing office leases, sees this as critical for landlords welcoming tenants back. The technology allows employers to see whether a conference room has exceeded the number of employees who can safely meet, or whether too many people are on one floor. Workers can also use these apps to take precautions like checking how many colleagues are using the gym, or how recently the cafeteria was sanitized. 
  • Heard on the Street: CEO Nick Romito: “By integrating Rise into the VTS offering, our aim is to redefine the category of tenant experience and provide landlords with a full-service platform that continues the journey of digitizing the entire asset experience.” [WSJ+PR]

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