REach® Technology Accelerator Named Among Best in Nation for Second Consecutive Year; Now Accepting Applications for 2019 Class
CHICAGO, Dec. 13, 2018 /PRNewswire/ -- For the second consecutive year, REach®, the growth technology accelerator operated by the National Association of Realtors®' strategic investment arm, Second Century Ventures, was named among the top accelerators in the U.S. by the Seed Accelerator Rankings Project, or SARP.
Now in its sixth year, SARP is compiled by researchers from the MIT Innovation Initiative Lab for Innovation Science, Rice University and the University of Richmond. It aims to provide transparency around performance so that entrepreneurs can make educated decisions when choosing from the hundreds of programs that market themselves as accelerators.
"The growth and innovative strategy of the REach® program has allowed NAR and its members to stay ahead of the constant technological changes in the real estate market. For the REach® program to be recognized as one of the top accelerators in the country for a second straight year is an honor and we look forward to growing the program further to benefit Realtors® and their businesses," said NAR CEO Bob Goldberg.
This year, SARP reviewed performance metrics and solicited feedback from alumni of over 150 startup accelerators; the top companies were ranked in four categories: platinum plus, platinum, gold and silver.
"It is an honor to once again be recognized by SARP, alongside 25 other elite accelerators across the country. We see a huge potential for success for all REach® companies, and being honored by SARP for the second year in a row shows just how valuable REach® companies are to NAR's members and the industry at large," said Mark Birschbach, Senior Vice President, Strategic Business, Innovation & Technology at NAR.
REach® differs from other accelerators in both its vertical focus within the real estate and related industries, and in its early-to-mid growth stage at which most companies enter the program. Previous classes have found great success within the accelerator program and have on average doubled their customer base and collectively raised over $300 million in financing both during and after the program. Applications for the 2019 class can be submitted at narreach.com/apply.
"We are excited to have the opportunity to invest our time and resources into the companies chosen to be a part of the REach® program and look forward to welcoming a new class in 2019 and propelling them into the real estate industry," said Goldberg.
Applications for the 2019 REach® program will be accepted through January 31, 2019. Selected companies will be announced in March 2019; the nine-month program kicks off at the end of March and runs through November 2019.
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 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.
Companies that have participated in REach® show impressive results:
- In aggregate, the companies have raised more than $300 million of follow-on financing.
- Revenue, customer and/or user growth rates from 50 percent to 2,000 percent.
- Key partnerships with major companies, including DocuSign, Coldwell Banker, RE/MAX, RealtyOne, zipLogix, Google, and Facebook.
For more information about REach® or to submit an application, visit narreach.com/apply. SARP rankings and selection criteria can be found at seedrankings.com.
Second Century Ventures is an early-stage technology fund, backed by the National Association of Realtors® that leverages the association's 1.3 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 serving as a catalyst for new technologies, new opportunities and new talent.
The National Association of Realtors® is America's largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.
SOURCE National Association of Realtors
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