Proptech firms VTS and Hightower are joining forces to form a single leasing and asset management platform, under the name VTS.
The features will be integrated into one platform managing more than 5bn sq ft.
Nick Romito, chief executive and co-founder of VTS, will remain in his role as chief executive.
Brandon Weber, co-founder and former chief executive of Hightower, will assume the role of chief product officer and will join the VTS board of directors along with former Hightower board member Ethan Kurzweil, partner at Bessemer Venture Partners.
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Romito said: “We are at a pivotal moment in the commercial property industry, with the market beginning to realise technology’s true potential. VTS and Hightower have earned the trust of the top institutional firms, driving significant adoption of both platforms across the industry.
“With VTS and Hightower’s combined expertise, we can elevate our service offering and partner with customers to solve their most complicated problems in property. We are broadening our vision to tackle even more ambitious industry challenges around the globe.”
Weber added: “Our companies have a lot in common, we care deeply about the success of our customers and are committed to solving the industry’s most significant pain points.
“By joining forces, we are combining the technical horsepower and industry expertise of two very strong teams. In the coming months, we’ll accelerate our product roadmap and more rapidly expand into international markets.”
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