Second Century Ventures Announces 2020 REACH and REACH Commercial Companies
CHICAGO, May 19, 2020 /PRNewswire/ -- Second Century Ventures, the strategic investment arm of the National Association of Realtors®, announced Monday the selection of its 2020 REACH and REACH Commercial programs. Second Century Ventures is the most active global venture fund in real estate technology with more than 100 portfolio companies worldwide.
Second Century Ventures operates the global REACH accelerator with operations 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.
"NAR has spent decades exploring and investing in the technological innovations we believe will define the future of America's real estate market – investments that appear even more critical in the face of the COVID-19 pandemic," said Bob Goldberg, CEO of the National Association of Realtors® and President of Second Century Ventures.
"While we look at this crisis as an opportunity to grow and adapt to the markets of the future, we know it is also a time when NAR's commitment to equipping Realtors® with the technology they need to survive in a rapidly-evolving market is more important than ever," Goldberg continued. "The REACH program allows NAR to deliver radical and actionable innovation in all aspects of real estate, and we are thrilled to welcome 16 new companies representing a dynamic group of entrepreneurs who will work hand in hand with the Realtor® family to transform our industry."
Companies selected for the 2020 REACH and REACH Commercial classes offer innovation in transaction management, insurance, home and small business security, digital marketing, multifamily housing amenity services, clean energy and more. Collectively, these two classes have raised over $50 million in capital, employ more than 340 people and represent a market capitalization of more than $400 million.
"The companies selected for the 2020 REACH program rose to the top of a tremendously impressive list of applicants," said Dave Garland, Managing Partner of Second Century Ventures. "With the support and guidance of our vast global community of real estate industry professionals, strategic partners, investors and mentors, we are confident the 2020 class participants will be among the most instrumental companies to deliver positive and enduring transformation for real estate."
The eight companies selected for the REACH Class of 2020 include:
- Earnnest: secure, electronic escrow fund transfer platform
- Kangaroo: affordable, DIY smart home and small business security solutions
- RealX: America's first online property rights exchange
- Ylopo: end-to-end, cross platform, digital marketing
- PunchList: all-in-one closing repair solution
- Transactly: simple, streamlined platform for real estate professionals and transaction coordinators
- CartoFront: software-as-service (Saas) based flood insurance tool for Realtors®
- Modus: secure, modernized title and escrow platform
The eight companies selected for the REACH Commercial Class of 2020 include:
- Obie: insurance and portfolio management for small-to-medium CRE investors and owners
- EPR2: clean energy solutions for commercial property owners
- Pear Chef: private chef and culinary services for the multi-family housing market
- Dealius: integrated, web-based CRE brokerage management platform
- Dealius Capital: working capital funding specializing in lease commission receivables
- Leasera: on-demand services platform for the multi-family rental housing market
- Real Time Risk Solutions: mobile risk management platform with advanced analytics
- Occupier: Deal management, lease accounting and lease portfolio management solution
"The rave success of the inaugural commercial program in 2019 more than illustrated the need for innovation that supports practitioners, owners, managers and investors alike," said Tyler Thompson, Managing Partner, Second Century Ventures. "We are excited to debut the REACH Commercial Class of 2020, a remarkable lineup of solutions across the commercial real estate eco-system, and we're eager to accelerate their growth through unrivaled access and exposure to the industry."
REACH will offer its 2020 classes a robust curriculum including education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace. Learn more about the 2020 REACH and REACH Commercial classes and how you can get involved at narreach.com.
About REACH
REACH is a unique real estate technology program created by Second Century Ventures, the most active venture fund in the global real estate technology space. Backed by the National Association of Realtors®, SCV and REACH leverage 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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