CHICAGO, April 22, 2015 /PRNewswire/ -- The National Association of Realtors®' strategic investment arm, Second Century Ventures, has unveiled the seven organizations chosen for the 2015 class of REach®, a growth technology accelerator program. The 2015 class officially kicks off this week.
"This year's REach class is made up of truly phenomenal organizations that are innovating both within and beyond the real estate space," said Dale Stinton, president of SCV and NAR CEO. "The entrepreneurial spirit and energy that this class embodies will resonate greatly with the NAR community. We are looking forward to introducing the new class to NAR's 1 million members while providing the companies with access to experts and influencers in the real estate, insurance, mortgage and financial services industries."
The REach program differs from other accelerators in both its vertical focus within real estate and related industries and in the growth stage at which most companies enter the program. The seven companies range from seed stage to well-capitalized startups backed by world-renowned investors; in aggregate, the class has raised over $35 million in previous financings and total valuation exceeds $125 million. The REach program aims to move these organizations rapidly forward beyond their initial successes through education, mentorship and market exposure.
The companies chosen for the 2015 class:
- Asset Avenue (Los Angeles): An online peer-to-peer lending platform for the commercial real estate industry, it provides borrowers and brokers with quick and reliable access to competitively priced loans financed by accredited and institutional investors who lend up to $25 million for any single property.
- BoostUp (Detroit): Helps people save for a down payment on their next car or home by offering a dollar-for-dollar match on their savings from brand partners, family and friends.
- Guard Llama(Chicago): A mobile personal security system that expedites the 9-1-1 dispatching process when dialing 9-1-1 is not possible.
- Loop & Tie (Austin, Texas and New York): Simplifies personalized gifting for businesses to help promote brands, win business and build goodwill.
- NotaryCam (Newport Beach, Calif.): Provides companies and individuals with the ability to have documents notarized online from anywhere in the world, at any time, by a network of certified, licensed notaries.
- Pro.com (Seattle): A home services marketplace that helps homeowners price out projects and matches them with a certified "pro" in their area that can get the job done.
- TermScout (Denver): An intelligence application for business-to-business sales professionals.
"While these seven companies have a broad range of products and services – from home services and personal security to commercial real estate lending – they have one thing in common: exceptional leadership and vision. They are seizing an opportunity for rapid growth within the real estate, finance and home services via REach, which will ultimately help them expand into other vertical marketplaces," said Constance Freedman, managing director of Second Century Ventures and REach. "This is one of the aspects of the REach program that is so unique and fascinating. We help companies build credibility in our key sectors of focus to use as a base for expanding into other relevant markets as well."
Hundreds of companies applied to REach this year, more than double the applicants in 2014. Those chosen proved to have solid business models, executable business plans and significant potential to impact the real estate space and beyond. The seven organizations can expect significant results, as past classes have doubled, on average, their customer base and collectively raised over $34 million in financing both during and after completing the program.
Second Century Ventures is an early-stage technology fund, backed by the National Association of Realtors®, that leverages the association's 1 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 1 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.
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SOURCE National Association of Realtors