Second Century Ventures Makes Investment in Modern Moving Services Platform Updater
CHICAGO, Feb. 11, 2020 /PRNewswire/ -- Second Century Ventures, the venture capital arm of the National Association of Realtors®, announced today that it has made an investment in Updater, a leading digital moving concierge firm that allows Realtors® to offer their clients a seamless, frustration-free moving process.
Updater was a member of Second Century Ventures' inaugural 2013 REACH Accelerator class, a unique technology growth program that provides companies with education, mentorship, an insight panel and industry exposure to facilitate their launch into the marketplace.
"We're changing how moving works for consumers and turning it into an enjoyable, frictionless experience," said David Greenberg, Updater's founder and CEO. "We're excited to deepen our great relationship with SCV and NAR by investing heavily in the real estate industry and by enabling Realtors® and property managers to deliver an unrivaled moving experience."
Updater plans to use its current investment round to support aggressive growth initiatives. That undertaking includes the recently announced acquisition of Bridgevine, a leading provider of technology for home subscription sign-ups and associated concierge offerings. Bridgevine will become part of Updater's home services division, helping expand app distribution and enhance Updater's suite of products.
Mark Birschbach, NAR's senior vice president of Strategic Business, Innovation & Technology, also expressed confidence following Tuesday's announcement.
"We are impressed with Updater's business progress and pleased to make an investment to reinforce its successful growth strategy," Birschbach said. "Updater's platform delivers unique value to Realtors®, property managers and consumers alike. This investment is well aligned with SCV's mission to support and advance technologies throughout the entire real estate ecosystem."
About Updater
Updater makes moving easier for the 17 million households that relocate every year in the US. With Updater, users seamlessly transfer utilities, forward mail, connect TV and internet, and much more. Hundreds of the most prominent real estate companies in the US (from real estate brokerages to multifamily and relocation companies) rely on Updater's technology to save clients hours with a branded and personalized Updater moving experience. To learn more, visit www.updater.com.
About Second Century Ventures
Second Century Ventures is an early-stage technology fund, backed by NAR, which leverages the association's more than 1.4 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 acting as a catalyst for new technologies, new opportunities, and new talent.
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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