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VTS is Acquiring Rise Buildings

By March 9, 2021March 25th, 2021No Comments

VTS is Acquiring Rise Buildings

by Prasan Kale, CEO & Co-Founder

Today is a momentous day for Rise Buildings. On behalf of the entire Rise team, Sid and I are thrilled to let you know that Rise is being acquired by VTS, the industry’s leading leasing, marketing, and asset management technology company (you can check out the news in The Wall Street Journal here). We’ve gotten to know Nick and the VTS team incredibly well, it’s clear that we share the same vision and values.  Combining our organizations is a strategic endeavor that we know will accelerate our growth — delivering immense value to our customers and their tenants as they continue to navigate one of the most challenging markets in a generation. 

Watch this video to hear why myself and VTS CEO Nick Romito are excited about this news:

While this is a huge milestone for our respective companies, it’s just that: one milestone. We still have a long way to go on our mission to give our customers a unified technology platform to digitally transform their properties.

As a former real estate developer, owner, and operator myself, I know firsthand how frustrating it is to deal with many, disconnected systems within a property. I believe there is a better, technology-enabled way to improve operational efficiency while engaging and retaining valuable tenants. Additionally, owners and operators should be able to understand critical insights from their assets and use these to make better decisions across the board. 

Ever since Sid and I co-founded Rise, our team has worked tirelessly to make this vision a reality. Since 2016, we’ve helped top landlords across the US and globally, including Blackstone, Sterling Bay, Hines, and CIM Group, create significant value through our technology. This hasn’t been by accident — it reflects our customer-centric, product-led ethos. Having been real estate technology customers in the past ourselves, we have always been committed to delivering a product that exceeds our high and exacting standards.

And today, we take the next step in our journey by partnering with VTS. We’ve long admired Nick and the team at VTS for what they’ve achieved in modernizing the industry’s approach to leasing and asset management. As such, it’s no surprise that we share a common goal of bringing the best technology to real estate. 

Joining forces and integrating the Rise offering with VTS’ platform will give us the ability to accelerate the delivery of the best-in-class technology offerings landlords need now more than ever to emerge from COVID-19 unscathed. This combination positions us for future growth and ensures tenants have the information and capabilities to return to work safely. And our existing customers will benefit from expanded support and R&D investment to deliver even more capabilities. 

In many ways, though, Rise will continue to be Rise. Our entire team will be joining VTS, and I’m excited to continue leading Rise’s strategic direction spanning the commercial office and multi-family residential segments.  

Sid and I would like to take this moment to thank all of our Rise teammates for their continued hard work and relentless commitment to our vision. Thank you to our customers for their trust and support, and for their partnership as we continue to build upon our offerings. Additionally, we want to thank our families, partners, investors, and friends for your unwavering support — we wouldn’t be where we are without you.

Stay tuned for more information about our plans over the coming months. We hope this is the first of many exciting announcements about our product and capabilities. In the meantime, if you’re a Rise customer and would like more information on what this news means for you, please reach out to your Account Rep or email prasankale@risebuildings.com. Someone on our team will be in touch shortly. 

For more information, you can read the press release here and VTS’ blog post here