CHICAGO (April 19, 2021) – Second Century Ventures, the strategic investment arm of the National Association of Realtors®, announced today the selection of nine technology companies for the 2021 REACH Commercial scale-up program. SCV, which is the most active global venture fund in real estate technology with more than 130 portfolio companies worldwide, operates the award-winning REACH growth program in five major, international markets. The REACH Commercial program helps high-growth potential technology companies scale in and beyond the commercial real estate sector.
"This pandemic has underscored the foundational role commercial properties play in the sustainability of vibrant communities," said SCV President and NAR CEO Bob Goldberg. "NAR has been on the frontlines on Capitol Hill and in every state capital this past year fighting to support our commercial practitioners as they work to attract investment, create jobs and revitalize communities. The unveiling of the 2021 REACH Commercial group is another critical step in our work to ensure commercial real estate can adapt to and flourish in the markets of the future."
Companies selected for the 2021 REACH Commercial program offer innovative tools and solutions for multiple aspects of the CRE market. Collectively, these companies have raised over $34 million in capital, employ more than 400 people worldwide and represent a valuation of $200 million.
"We have selected nine companies for our 2021 REACH Commercial program that are already well on their way to being market leaders in their spaces," said Bob Gillespie, executive director of REACH Commercial. "They bring solutions that fundamentally change commercial real estate design, investment and transaction management, as well as how we manage, experience and understand the properties in which we live and work. We have an outstanding 2021 cohort and look forward to helping them achieve exponential growth."
The nine companies selected for the 2021 REACH Commercial program are:
- Valcre: premier end-to-end appraisal software solution for CRE
- Remarkably: 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 CRE closing software platform
- Land Intelligence: actionable intelligence for new land development deals
- Otso: innovative commercial lease securitization for tenants, landlords and brokers
- Groundbreaker: all-in-one investment management software for small to medium commercial real estate investment firms
- Cove: modernized 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," said Tyler Thompson, managing partner of Second Century Ventures. "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. We look forward to announcing the companies selected for our residential technology scale-up in the coming weeks as these two cohorts will work together to leverage our rapidly expanding global community of real estate industry professionals, strategic partners, investors and mentors."
REACH will announce the companies selected to its residential real estate technology program later this month. Both U.S.-based cohorts will experience a robust curriculum including education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace. Learn more about the 2021 REACH Commercial program and how you can get involved at narreach.com.
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REACH is a unique real estate technology program created by Second Century Ventures, the most active venture fund in the global real estate technology space. Backed by the National Association of Realtors®, SCV and REACH leverage the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com.