Second Century Ventures, the strategic investment arm of the National Association of REALTORS®, is now accepting applications for its 2020 REACH and REACH Commercial accelerators.
Applications for both 2020 REACH and REACH Commercial programs will be accepted through Jan. 31, 2020, at nar-reach.com/apply/. Both programs will kick off in April and run through November 2020.
REACH offers education, mentorship and exposure for technology companies aiming to launch into the real estate industry, accelerate their businesses and expand into adjacent markets such as insurance, mortgage and financial services. REACH provides a unique opportunity for technology companies to get sizeable exposure to an industry that represents more than $1 trillion in revenue, consists of more than 100,000 small- and medium-sized businesses and generates more than $12.5 billion in annual advertising spend in the U.S. alone. With recent program expansion, REACH will offer the most talented entrepreneurs access to a worldwide network of peers, mentors and investors.
“2019 was a hallmark year for the NAR REACH program. Not only did we launch REACH Commercial, a track specifically for technology companies serving the commercial real estate marketplace, we also expanded globally with REACH Australia,” says NAR CEO and SCV President Bob Goldberg. “This amplifies our ability to cultivate a thriving marketplace of new ideas in all sectors of real estate and further expands our network of industry professionals, strategic partners, investors and mentors around the world.”
REACH has attracted technology startups developing solutions for multiple aspects of the industry, including marketing automation, pay-at-close renovation, REALTOR® safety, leasing, lending, transaction management, tokenization and more. Participating companies show impressive results both during and after program completion. Specifically, REACH companies have in aggregate raised more than $300 million of follow-on financing, have increased revenue, customer and/or user growth rates between 50 percent to 2,000 percent, and have secured key partnerships with major companies including DocuSign, Google, Facebook, Coldwell Banker, RE/MAX and Berkshire Hathaway HomeServices.
“As the top growth accelerator in real estate, we are passionate about helping the most promising new technology startups—and the innovative teams who lead them—navigate the complex and dynamic residential and commercial marketplaces,” says NAR Senior Vice President of Strategic Business, Innovation & Technology Mark Birschbach. “We look forward to welcoming those selected for the 2020 REACH and REACH Commercial classes and driving their businesses forward through a rapidly expanding global network.”
Participants in the REACH accelerator receive numerous benefits, including:
- Mentorshipfrom more than 350 real estate and technology thought leaders and executives from major real estate brokerages and brands, technology companies and venture capitalists. On average, accelerator participants meet with more than 50 of these advisors in one-on-one sessions throughout the program.
- Insight panel, an exclusive group of more than 50,000 real estate professionals who provide feedback on user experience, product viability and pricing. This guidance has proven vital to many companies’ success.
- Educationon how to navigate the trillion-dollar real estate industry with the backing of the nation’s largest trade association and a $5 billion
- Exclusive access to more than a dozen of the real estate industry’s top conferences, trade shows and networking events.
- A global networkof highly talented, like-minded entrepreneurs including more than 80 REACH alumni companies and curated program sponsors.
For more information about REACH or to submit an application, please visit www.narreach.com.