VendorPM raises $6M to scale its market for property managers and repair distributors – TechCrunch

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VendorPM, a Toronto-based market that connects property managers with respected distributors, has raised $6 million in seed funding led by Bessemer Enterprise Companions. The software-enabled market goals to modernize the best way property managers handle, supply and procure service distributors. The startup at the moment manages a two-sided market throughout Canada in assist of each property managers and repair distributors.

The platform helps over 400 constructing providers throughout upkeep, operations, capital expenditures {and professional} providers. Up to now two years, VendorPM has scaled its enterprise to cowl greater than 5,000 buildings, 30,000 distributors and 100 property administration companies, together with notable relationships with BentallGreenOak, Cushman & Wakefield | Stevenson, and Avison Younger.

VendorPM CEO Emiel Bril informed TechCrunch in an electronic mail that the startup up was born out of his personal expertise inside the service trade.

“I first entered the service trade on the age of 14, going door to door promoting window cleansing providers,” Bril mentioned. “By the point I used to be 20, I had labored my means as much as servicing industrial properties, which make clear the main inefficiencies of vendor/property administration relationships. After promoting my window-cleaning enterprise, I got down to streamline the best way distributors and property managers work collectively beneath one single log-in, and that’s how VendorPM was born.”

Picture Credit: VendorPM

VendorPM notes that property managers in North America spend billions to service their buildings annually however nonetheless depend on outdated strategies corresponding to electronic mail and excel spreadsheets. The objective of the startup’s SaaS software is to bridge this hole through its centralized platform and to permit property administration firms to streamline and arrange vendor information and operations.

The corporate goals to boost day-to-day effectivity for website workers whereas enhancing visibility and management for head workplaces throughout 4 core capabilities, which embrace vendor administration, sourcing, procurement and compliance. VendorPM says property managers flip its platform to arrange their vendor relationships and assets, whereas distributors use the platform to market their providers and supply quotations and proposals.

The startup’s seed funding might be used to assist its continued product innovation, hiring and growth plans into focused development markets throughout america. Bril outlined that the funding will largely be allotted towards enhancing consumer experiences throughout the VendorPM platform. When it comes to the longer term, Bril mentioned the corporate’s growth into america is the subsequent step in its objective to grow to be a worldwide market for service distributors.

“VendorPM is modernizing the best way property managers and distributors work collectively,” Bril mentioned. “We envision a world that’s not reliant on paper, electronic mail, Excel or word-of-mouth and, on this pursuit, have created one log-in that covers the total ‘vendor’ workflow. We’re on observe to grow to be the worldwide, category-defining SaaS-enabled market for service distributors and property managers, and this growth into the US is the subsequent step in that course of.”

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