VendorPM operates a software-enabled two-sided marketplace that modernizes how property managers work with vendors by enhancing vendor management, sourcing, procurement and compliance. The platform supports over 5,000 buildings, close to 40,000 service vendors, and hosts 120+ property management organizations across major Canadian cities and a growing number of U.S. cities. Building managers use VendorPM to obtain multiple bids, standardize workflows, and simplify procurement-to-payment processes across asset classes. The company plans to aggressively expand its U.S. footprint into additional markets including Chicago and Washington, D.C., and to continue growing adoption among commercial real estate firms. VendorPM will use the new funding to reinvest in its team and platform and to build new product offerings for vendors and property managers, including payment technology to create a more frictionless workflow. The company highlights leading users such as Colliers, Golub & Co., Avison Young and BentallGreenOak as part of its customer base. VendorPM is a Toronto-based, software-enabled marketplace that centralizes vendor management, sourcing, procurement and compliance for property managers and service vendors. Its platform supports over 400 building services and, in the past two years, has scaled to cover more than 5,000 buildings, 30,000 vendors and 100 property management firms, including BentallGreenOak, Cushman & Wakefield | Stevenson and Avison Young. Property managers use the SaaS tool to organize vendor data and operations, while vendors use it to market services and submit quotations and proposals. The platform aims to improve day-to-day efficiency for site staff and provide greater visibility and control for head offices across four core functions. The company raised $6 million in seed funding to support product innovation, hiring and expansion into targeted U.S. markets. CEO Emiel Bril said the long-term goal is to become a global, category-defining marketplace that replaces paper, email and spreadsheets.

Total raised

$26M

Funding rounds

2

Latest round

Series A

Latest activity

Aug 2022