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London (February 3, 2021) – Second Century Ventures, the strategic investment arm of the National Association of Realtors®, today announced its inaugural REACH UK cohort. Second Century Ventures is the most active global venture fund in real estate technology – with more than 100 portfolio companies worldwide – and operates the global REACH scaleup program in five major markets.
REACH UK launches its first program, the REACH UK Class of 2021, with support from strategic industry partner Propertymark, the UK's leading professional body for property personnel, representing members who practice from over 15,000 offices in all aspects of property services. Through this collaboration, Propertymark will have a significant role in accelerating innovation to help its members navigate new market conditions with unique access to top new technology.
"We're excited to work with the REACH UK class of 2021 to accelerate their growth during a time when many start-ups are concerned about the ongoing impact of COVID-19," said Mark Hayward, chief policy advisor of Propertymark. "Proptech is an exciting and growing industry and the need to adapt to remote working this year has shown the importance of innovation in the property sector. Early engagement with these companies will help Propertymark members navigate the world of technology as it develops and will offer early exposure to some of the most innovative start-ups in the sector."
The REACH UK Class of 2021 represents companies based across Europe which offer solutions for the entire real estate industry. Collectively, this class has raised over $15 million in capital, represents a combined valuation of just under $150 million and employs over 100 people.
The 7 companies selected for the REACH UK Class of 2021 are:
- Sprift: the UK's most transparent and comprehensive property data platform;
- UnderTheDoormat: an integrated short-term accommodation business, with a proprietary and highly scalable SaaS platform for property companies, agents and portfolio owners;
- Myroffice: technology-driven cleaning service digitalization for commercial real estate;
- Hammock: innovative property finance management platform for rent collection, bookkeeping, account services and buy-to-let investment tracking;
- Smart Point: intelligent, contactless automated delivery systems and secure parcel protection;
- Radweb: property management solutions including InventoryBase, a unique cloud and mobile application for property inventory and inspection;
- Offr: customizable digital transaction management platform for estate agents.
"While the world today feels smaller than ever before in so many ways, NAR and SCV are focused on pivoting to ensure our members are positioned to succeed in the marketplaces of the future," said Second Century Ventures President and NAR CEO Bob Goldberg. "Leveraging the ingenuity that we see on display throughout Europe and across the globe becomes even more critical in the aftermath of COVID-19 and will help us guarantee Realtors® remain at the forefront of industry innovation and adaptation in the years ahead."
Companies that have participated in the REACH program have collectively raised more than $350 million of follow-on financing and have secured key partnerships with DocuSign, Google, Facebook, Keller Williams and Berkshire Hathaway HomeServices, among others.
"We are eager to help accelerate the growth of the seven companies selected and excited to work so closely with their dynamic teams," said Valentina Shegoyan, managing partner of REACH UK. "We had an overwhelming caliber of applicants for our inaugural programme and have appreciated the opportunity to connect with so many talented entrepreneurs. We believe the technologies selected for the REACH UK Class of 2021 will be instrumental in shaping the future of the property sector, both in the UK and globally."
If you are interested in helping advance the next generation of real estate technology entrepreneurs, sign up for REACH UK's insight panel and get more information at nar-reach.com/uk.
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About REACH
REACH is a unique technology scale-up programme created by Second Century Ventures, the most active global fund in real estate technology. Backed by the National Association of Realtors®, Second Century Ventures leverages the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH programme helps technology companies scale across the real estate vertical and its adjacent markets through education, mentorship and market exposure. For more on REACH, visit www.narreach.com.
About the National Association of REALTORS®
The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
About Propertymark
Propertymark is the UK's leading professional body for property personnel, representing members who practice from over 15,000 offices in all aspects of property services. We are dedicated to the goal of professionalism within all aspects of property, estate agency and land. Our aim is to reassure the general public that by appointing a Propertymark-protected agent to represent them, they will be safeguarded and receive the highest level of integrity and service for all property matters.