CHICAGO (December 7, 2021) – Second Century Ventures, the strategic investment arm of the National Association of Realtors®, opened applications today for the 2022 U.S. REACH and REACH Commercial scale-up programs. SCV, the most active global venture fund in real estate technology, operates the award-winning REACH technology scale-up program across North America, Europe, Australia and Asia-Pacific.
"The rapidly changing property technology industry looks to REACH as a crucial source for new innovation in real estate – the world's largest asset class," said Bob Gillespie, executive director, REACH Commercial. "From acquisition and operation to valuation and disposition, we are investing in technologies that impact each and every step in the value chain. We encourage all companies building innovative real estate technology that will bring significant change to our industry to apply for our 2022 program."
The mission of NAR's REACH program is to select and help accelerate the most promising new technology companies in real estate and adjacent industries, including banking, insurance and home services. Participants in the program receive premier access to the following:
- Mentorship from real estate, mortgage, venture capital and technology sector leaders;
- Education on how to navigate the trillion-dollar global property industry from top experts;
- Exclusive opportunities at the most impactful conferences, trade shows and networking events;
- Unique access to top media and academic organizations; and
- A global network of highly talented, like-minded entrepreneurs, including more than 160 REACH portfolio companies and curated program sponsors.
"We've seen some amazing companies grow and develop within the REACH program," said Bob Goldberg, NAR CEO and the president of SCV. "Technology moves fast and it's vital for us to be in tune with every evolution taking place inside of the industry. The great work being done by Second Century Ventures and REACH ensure that Realtors® will remain at the forefront of the industry."
Companies in the REACH program have achieved significant milestones during and after participation, including major fundraising rounds, securing key brokerage partnerships, completing strategic acquisitions, and launching new products.
"We are proud of our 2021 REACH cohorts, which have collectively raised more than $250 million," said Kia Nejatian, executive director, REACH. "Additional notable achievements include Knock's expansion to 60 markets in less than two years, Feather's Pitch Battle win at NAR's iOi Summit and Lex Market's first-of-its-kind real estate IPO accessible to all U.S. investors."
Applications for the 2022 U.S. REACH and REACH Commercial programs will be accepted through January 31, 2022. The program will begin in April and run through fall of 2022. For more information about REACH, or to apply, visit https://www.nar-reach.com.
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The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.