View The Space or VTS, a commercial real estate management platform, has raised $21 million in new funding. What’s unique about this technology is that it helps real estate owners, brokers and investors collaborate in real time from any mobile device, enabling them to manage their commercial real estate portfolios and make better decisions.
There has long been a need for a technology of this level, as people still managed their property investments the old fashioned way on Excel spreadsheets with information being passed back and forth on paper. Being able to make data-driven decisions is convenient, flexible and efficiently, saving time and money for investors and brokers.
VTS allows you to access information about available spaces and prospective clients because it is all plugged into one platform. An analytics dashboard aggregates data about specific buildings and tenants as well as market trends.
Since this technology is data and trend driven, it will be interesting to see how expensive commercial spaces become in the near future, especially in cities like LA, San Francisco and New York, as it will for sure encourage bidding wars. It just might also encourage companies to relocate their offices to smaller cities where real estate is more economically priced.