REach® Technology Accelerator Named Among Best in Nation
WASHINGTON (July 12, 2017) - REach®, the growth technology accelerator operated by the National Association of Realtors®’ strategic investment arm, Second Century Ventures, was recently named among the top 30 accelerators in the U.S. by the Seed Accelerator Rankings Project, or SARP.
Now in its fifth year, SARP is compiled by researchers from the MIT Innovation Initiative Lab for Innovation Science, Rice University and the University of Richmond and aims to provide transparency around performance so that entrepreneurs can make an educated decision when choosing from the hundreds of programs that market themselves as accelerators.
“NAR’s REach program is the perfect example of the innovative strategies that the association has taken to enrich our Realtor® members and their business, and being named among the top accelerators in the country affirms our success,” said Dale Stinton, president of SCV and NAR CEO. “Since becoming REach’s managing director Mark Birschbach has really taken SCV and REach to the next level, and he ‘owns’ that success now and in the future.”
This year SARP reviewed performance metrics and solicited feedback from alumni of over 150 startup accelerators; the top 30 were ranked in five categories: platinum plus, platinum, gold, silver and bronze. This is the first time that REach, which received a silver ranking, has been included on the list. Since REach’s launch in 2013, it has accepted 40 companies into its accelerator program and recently announced the nine companies participating in its 2017 class, which runs through November 2017.
“The future of the real estate industry depends on forward thinking and the adoption of technology that benefits consumers and agents in the real estate transaction,” said Bob Goldberg, SCV officer and NAR senior vice president of Business Development. “As incoming NAR CEO one of my top priorities for the future is to continue to successfully leverage REach and SCV’s technology investments to expand the value that Realtors® bring to the real estate transaction.”
REach differs from other accelerators in both its vertical focus within the real estate and related industries and in the early-to-mid growth stage at which most companies enter the program. Past classes have found great success within the accelerator program and have on average doubled their customer base and collectively raised over $100 million in financing both during and after the program.
“It is an honor to be recognized by SARP alongside other elite accelerators in the U.S. Our selection is an indication of the significant strategic value we provide to entrepreneurs looking to work with our members and penetrate our key markets” said Mark Birschbach, managing director of SCV and REach®. “We see tremendous opportunity for REach companies to meet a similar level of success that SCV investment companies like DocuSign, Updater and others have achieved.”
Second Century Ventures is an early-stage technology fund, backed by the National Association of Realtors® that leverages the association’s 1.2 million members and an unparalleled network of executives within real estate and adjacent industries. SCV systematically launches its portfolio companies into the world’s largest industries including real estate, financial services, banking, home services, and insurance. SCV seeks to define and deliver the future of the world’s largest industries by being a catalyst for new technologies, new opportunities, and new talent.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.