- A platform that promises to speed development time.
- A user-friendly software solution for commercial appraisers.
- A marketplace that enables more people to invest in real estate.
These are among the nine innovations spotlighted through the 2021 REACH Commercial program. The REACH program identifies technology companies in commercial and residential real estate with high growth potential. Through education, mentorship, and market exposure, the program helps those companies launch their products into real estate and adjacent industries. By investing in new and emerging companies through REACH, Second Century Ventures—the National Association of REALTORS®’ strategic investment arm—helps technology companies access the industry in a way that is beneficial, rather than disruptive, to REALTORS®.
SCV founded REACH in 2013 and branched out with REACH Commercial in 2019. REACH Commercial advances technologies that impact all aspects of commercial real estate and gives REALTORS® the opportunity to get in on the ground floor with platforms that could radically change how companies and investors buy, lease, work, and live in commercial properties. Announcing the nine REACH Commercial companies in April, SCV President and NAR CEO Bob Goldberg called REACH Commercial a “critical step in our work to ensure commercial real estate can adapt to and flourish in the markets of the future.”
Collectively, the companies selected for the 2021 REACH Commercial program have raised over $34 million in capital, employ more than 400 people worldwide, and represent a valuation of $200 million. The companies are:
- Valcre, an end-to-end appraisal software solution
- Remarkably, a marketing business intelligence platform for multifamily housing owners and operators
- Lex Markets, a first-of-its-kind securities market for commercial real estate
- Parafin, on-demand generative design for optimized designs, budgets, and investment models
- ProDeal, award-winning closing software platform
- Land Intelligence, actionable intelligence for new land development deals
- Otso, innovative commercial lease securitization for tenants, landlords, and brokers
- Groundbreaker, an all-in-one investment management software for small to medium-sized commercial real estate investment firms
- Cove, a modern technology service platform to transform the way people engage with their physical environments
“These nine companies have been selected from an impressive list of highly qualified candidates,” says Tyler Thompson, managing partner of SCV. “We are confident the nine technologies, and the founders who lead them, will not only help the market navigate post-pandemic challenges but will revolutionize the future of real estate.”
Since 2019, 23 companies have participated in REACH Commercial. Learn more about the REACH Commercial companies.