NAR's Second Century Ventures Selects Inaugural REACH Canada Class
TORONTO, Oct. 14, 2020 /PRNewswire/ -- Second Century Ventures, the strategic investment arm of the National Association of Realtors®, announced Wednesday the companies selected for its inaugural REACH Canada program. Second Century Ventures is the most active global venture fund in real estate technology – with more than 100 portfolio companies worldwide – and operates the global REACH scale-up program in five major markets. The award-winning REACH program helps launch and accelerate high growth potential companies in the real estate, financial services, banking, home services and insurance industries.
"This year has highlighted the significant impact that technology has and will continue to have on the real estate industry. With the help of virtual staging tools, e-signature platforms, remote notarization and even moving services, Realtors® and consumers have been able to continue to list and close transactions in the midst of a year unlike any other," said Second Century Ventures President and NAR CEO Bob Goldberg. "NAR's ability to find the world's most promising and productive new technologies through programs like REACH will help Realtors® navigate the current market and build their businesses for the years ahead."
The 2020 REACH Canada class represents companies based across North America, offering solutions for the entire real estate ecosystem as each strives to deliver improved customer experiences to homeowners and Realtors® alike. Companies selected for REACH Canada 2020 are broadly categorized within four verticals: Consumer Insights, Homeownership Solutions & Affordability, Sales & Marketing Tools and Commercial Applications. Collectively, this class has raised over $50 million in capital and represents a market capitalization of more than $180 million.
"After opening two new global REACH programs earlier this year in Canada and the UK, we are elated to welcome the first class of companies selected for the REACH Canada program and look forward to debuting the inaugural REACH UK class in the months ahead," Goldberg continued.
REACH Canada will offer its 2020 class a robust curriculum including education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace.
"Our inaugural REACH Canada program was flooded with interest from numerous high-quality companies, which made the selection process extremely challenging," said Lynette Keyowski, Managing Partner, REACH Canada. "In narrowing such a competitive field to our final selections, we focused on technologies that are essential today and solutions that address what is coming next for real estate. We believe the 2020 REACH Canada Class represents the most promising tools and applications to enhance the consumer experience within the Realtor® community and drive maximum value throughout the transaction."
The eight companies selected for REACH Canada 2020 by category are:
Consumer Insights
- Local Logic - Artificial intelligence that matches people to places
- HonestDoor - Accurate, free and advanced data analytics for real estate professionals and consumers
- Setter – Home management hub that provides convenience and peace of mind for home care and maintenance
Homeownership Solutions & Affordability
- Key - A patent-pending model to help prospective homeowners move in and begin building home equity years sooner
- RentMoola - A cloud platform that empowers property managers and renters to take control of their finances through a simple and secure digital solution
Sales & Marketing Tools
- BrokerAssist - On-demand agent-to-agent referral network and collaborative marketplace for real estate professionals
- Parkbench - Sales and marketing platform helping real estate professionals build relationships and business in a specific geographic area
Commercial Market
- Clik.ai - AI-powered workflow and due-diligence automation for banks, asset managers and CRE investment firms
"We are excited to welcome the REACH Canada Class of 2020 to our rapidly expanding global portfolio," said Dave Garland, Managing Partner, Second Century Ventures. "These eight companies are poised to make a significant impact on real estate in North America and well beyond. We are eager to accelerate their growth and share their unique and progressive solutions with Realtors® around the world."
Learn more about the companies selected for the REACH Canada program and how you can get involved at narreach.ca.
About REACH
REACH is a unique real estate technology growth program created by Second Century Ventures, a strategic technology investment fund backed by the National Association of Realtors®, which leverages the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com.
About the National Association of REALTORS®
The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
SOURCE National Association of Realtors
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