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VendorPM Closes $20M Series A Funding

VendorPM, a Toronto, CA-based provider of a marketplace connecting building managers and service vendors, raised $20M in Series A funding.

The round was led by Prudence with participation from Bessemer Venture Partners, Navitas Capital and Alate Partners, as well as strategic investors Colliers and RXR, as well as angels Dick Costolo (Former CEO of Twitter), Mark Rose (Chair & CEO of Avison Young) and others.

The company intends to use the funds to continue to invest in building out their team and platform, to expand into additional U.S. markets including Chicago, IL and Washington, DC, to create new product offerings for both service vendors and property managers including new payment technology solutions to enable a frictionless workflow with a comprehensive platform experience from procurement to payment.

Led by CEO Emiel Bril, VendorPM is a software-enabled marketplace for property managers to better work with vendors through enhancing vendor management, sourcing, procurement & compliance. This two-sided marketplace allows property managers to connect with vendors to fulfill projects and contracts of all sizes and scopes while enabling vendors to effortlessly market their services.

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. It currently hosts 120+ commercial real estate organizations and property management groups including Colliers, Golub & Co, Avison Young, BentallGreenOak and more.

VendorPM Closes $20M Series A Funding. Congratulations to the entire team. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

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