CHICAGO, Nov. 30, 2017 /PRNewswire/ -- Second Century Ventures, the strategic investment arm of the National Association of Realtors®, is now accepting applications for its 2018 REach® accelerator.
Applications for the 2018 program will be accepted through January, 31 2018 at www.narreach.com/apply. Selected companies will be announced in February 2018; the nine-month program kicks off at the end of March and runs through November 2018.
The REach accelerator program offers education, mentorship and exposure for technology companies to enter into the real estate industry, advance their businesses and expand into adjacent markets such as insurance, mortgage and financial services. REach provides a unique opportunity for technology companies to get intense 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.
"One of my goals as CEO of NAR is to expand the association's partnerships with technology leaders through SCV and REach," said NAR CEO and SCV President Bob Goldberg. "We've had some amazing companies come through the program, and we are excited to welcome and help advance the next wave of startup entrepreneurs who have the potential to someday influence the real estate industry."
REach has attracted technology startups of all types, ranging from big data and marketing automation to blockchain and Internet of Things companies. Previous REach classes include companies that raised over $50 million before entering the program, and others with revenue run rates greater than $10 million, along with graduates from other leading incubator programs - including Y Combinator - and those backed by prominent investors in the venture community, such as Andreessen Horowitz, Bessemer, and Menlo Ventures.
Benefits of the REach accelerator program are abundant, including:
- Mentorship from more than 350 real estate and technology thought leaders and executives from major real estate brokerages and brands, technology companies and venture capitalists. Participating organizations meet on average with more than 50 of these advisors for 30-minute one-on-one sessions throughout the program.
- Access to NAR's Insight Panel, a group of more than 30,000 real estate professionals who provide feedback on user experience, product viability and pricing. This guidance has proven vital to many companies' success.
- Education on how to navigate the trillion-dollar real estate industry with the backing of the largest trade association and a $5 billion brand.
"Startups and their technologies are changing industries and the way business is done at a breakneck pace," said REach Managing Director Mark Birschbach. "The REach accelerator invests in those entrepreneurs and companies to help bring innovation into the real estate industry and ensure NAR, its Realtor® members and their clients thrive."
Companies that have participated in REach show impressive results: In aggregate, the companies have revenue, customer and/or user growth rates ranging from 50 percent to over 5,000 percent; and have formed key partnerships with major companies, including Coldwell Banker, Keller Williams, RE/MAX, Century 21, realtor.com®, Facebook and Google.
For more information about REach or to submit an application, visit www.narreach.com/apply.
REach is a unique strategic accelerator created by Second Century Ventures, the investment arm of the National Association of Realtors®, which helps technology companies launch into the real estate vertical and its adjacent markets. REach is a 9-month program that provides education, mentorship and market exposure to help its portfolio companies access the trillion-dollar real estate market and leverage NAR's strategic expertise. REach accepts fewer than a dozen companies each year to access one of the world's largest industries. Learn more at www.narreach.com.
Second Century Ventures (SCV) is an early-stage technology fund, backed by the National Association of Realtors®, which 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 more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at www.realtor.org. This and other news releases are posted in the "News, Blogs and Videos" tab on the website.
SOURCE National Association of Realtors