The National Association of Realtors has chosen 17 startups for the 2022 class of its tech accelerator program, REACH, according to an announcement on Tuesday. The program is run by Secondary Century Ventures, the strategic investment arm of NAR.
Of the 17 companies, eight are focused on the residential sector. The other nine are commercial focused and part of REACH Commercial. Founded in 2013 by SCV, this is the tenth cohort of residential startups to take part in REACH.
The program is led by director Kia Nejatian and offers cohort members education, mentorships, exclusive networking opportunities and significant exposure to the global real estate marketplace. In exchange for these services, cohort members pay SCV a marketing fee and hand over small equity stakes in their companies.
“This year marks multiple significant milestones in NAR and Second Century Ventures’ legacy of innovation,” Dave Garland, the managing partner of SCV, said in a statement. “Not only are we celebrating the depth of a 180-plus company strong portfolio and the continued expansion of the REACH program, but we are also scaling some of the most ground-breaking technologies the industry has witnessed to date.
The eight companies in the residential cohort include: Courted, professional networking platform for agents; Fractional, a collaborative real estate investing marketplace; Inspectify, a technology solution for inspectors; leadPops, a lead generation and SEO solution for agents; PLACE, a platform for top producing agents to help improve their client’s experience; Perchwell, a platform that unifies real-time market analysis and listing data with client collaboration for agents; Reggora, an appraisal management platform; and Revive, a home renovation solution for sellers looking to get the most for their property.
In addition, Perchwell recently signed a partnership deal with the Multiple Listing Service of Greater Cincinnati and is partially owned by California Regional MLS, and Revive is an official partner of the California Association of Realtors.
“The innovative companies that have come out of the REACH program over the years have had a dramatic effect on the real estate landscape,” SCV President and NAR CEO Bob Goldberg said in a statement. “The influence of technology in this industry is undeniable and the entrepreneurs in REACH continue to redefine our understanding of what is achievable today.”
The 2022 REACH Commercial cohort includes: Arx City, B-Line, CREtelligent, LeaseUp, Matrix Rental Solutions, Spackle, Stake, Stratafolio and WhoseYourLandlord.
According to the press statement, collectively, the 17 companies have raised more than $200 million in funding and represent a combined valuation of $1.4 billion.