Real estate software firm VTS is acquiring Chicago-based startup Rise Buildings for around $100 million, which has developed a mobile app to help manage office spaces.
Investors all over the world are banking on office apps that help companies monitor their employees’ movements to ensure they are staying physically distanced and abiding by other pandemic-related protocols.
Using one of these apps, business leaders can measure if an area has exceeded the occupancy limit, as well as how many workers are using the on-site fitness facilities or if the cafeteria was properly sanitized.
Although these apps have long existed, the blossoming proptech industry and eagerness to bring employees back in the midst of a pandemic has made the need for them that much more urgent.
“In the return-to-work every owner has to make sure their tenants know what’s going on,” said Nick Romito, CEO of VTS.
While some employees have expressed uncertainty about the increased scrutiny of their movements, Rise Buildings CEO Prasan Kale stated that privacy was a top priority and the data it collects allows individuals to stay anonymous. Even more, employees can opt out.