VendorPM Closes $20M Series A To Scale Commercial Real Estate Vendor Marketplace Across North America
Summary
Additionally, the new funding round will enable VendorPM to build out new product offerings for both service vendors and property managers including new payment technology solutions to enable an increasingly frictionless workflow with a comprehensive platform experience from procurement to payment.The VendorPM SaaS platform and marketplace supports over 5,000 buildings and close to 40,000 service vendors across major Canadian cities and a growing number of U.S. cities. As a result, leading property management firms across North America are evolving old school practices such as email and word of mouth, to using VendorPM to unlock standardized visibility and control into what has been a rather opaque workflow to date. Currently hosting 120+ leading commercial real estate organizations and property management groups including Colliers, Golub & Co, Avison Young, BentallGreenOak and more, VendorPM plans to aggressively expand their U.S. footprint, already having undergone a strong market entry into Chicago, Illinois.Our industrys need for modernization has never been felt like this before. That is why our industry is turning to VendorPM; to cut operating costs in a meaningful way while enabling their teams to buy-back precious time in an otherwise outdated workflow. Prudence is an early investor in companies such as Casafari, Compass (COMP), CREXi, Evernest, Hemlane, Maxwell, Morty, Properly and Sundae.
Funding
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