CHICAGO, April 20, 2017 /PRNewswire/ -- The National Association of Realtors®' strategic investment arm, Second Century Ventures, unveiled seven organizations chosen for the 2017 class of REach®, a growth technology accelerator program helping launch companies into the real estate, financial services, banking, home services and insurance industries. The program is focused on providing early-to mid-stage companies with access to NAR's industry expertise, influence and key relationships as companies are launched into the trillion dollar real estate space.
"As technology continues to transform real estate, NAR is leading the charge through its innovative Second Century Ventures," said Dale Stinton, president of SCV and NAR CEO. "SCV is unique in its ability to leverage NAR's industry connections and insights, which position REach® companies for ultimate success. This year's class has tremendous potential to benefit Realtors® and the clients they serve, well into the future."
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 $50M in previous financings and total valuation exceeds $350M. 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 2017 class:
Centriq: The app helps solve the problem of transferring home organization, repair and maintenance knowledge from the seller to the buyer while keeping real estate professionals connected to their clients long after the transaction is over.
HouseCanary: The most complete and accurate source of residential valuations and analytics for every block and property in the U.S., and is used by agents to become differentiated, trusted advisors to their clients.
Notarize: A leading remote electronic notary service, which allows anyone to legally notarize a document from their mobile device or desktop 24-hours per day, seven days per week.
Occly: A portable 2-in-1 alarm solution that keeps real estate professionals safe and properties secure.
Pearl Certification: Certifies homes with features that contribute to its comfort, energy performance, indoor air quality and value.
Relola: Unlocks real estate professionals' insider knowledge with tools that digitize, amplify and market their everyday tasks.
Trusted Mail: Protects against wire fraud and email spoofing using facial-biometrics to sign and encrypt email and attachments.
"The future of our industry increasingly depends on fast, seamless adoption of technology that benefits home buyers, sellers and investors at every step of a real estate transaction, from prospecting to closing. These companies are seizing an opportunity for rapid growth within the real estate, finance and home services industries via REach®, which will ultimately help them expand into other vertical marketplaces," said Mark Birschbach, managing director of Second Century Ventures and REach®.
Hundreds of companies applied to REach® this year, up significantly from the number of applicants in 2016. 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 $60 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 1.2 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 1.2 million members involved in all aspects of the residential and commercial real estate industries.
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