Second Century Ventures, the strategic investment fund of the National Association of REALTORS® , announced recently that it is accepting applications for its 2015 REach® Accelerator program, now through January 30th, 2015. The nine-month program provides a unique opportunity for technology companies to get intense exposure into real estate, a market 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 advertising spend in the U.S. each year.
REach® offers education, mentorship, and exposure for technology companies to enter into the trillion-dollar real estate market, advance their businesses, and expand into adjacent markets such as insurance, mortgage and financial services. The program has attracted technology startups of all types, ranging from big data and marketing automation to business productivity and lead generation companies. The program accepts companies in a wide variety of growth stages, not just early-stage companies. Previous REach® classes included a company that raised more than $20 million before entering the program, another with a revenue run rate greater than $10 million, and graduates from other accelerator programs, including Y Combinator.
The program provides an unparalleled industry network, giving selected companies direct access to more than 250 mentors and advisors who are highly regarded executives, digital entrepreneurs and investors responsible for managing billions in revenue. In addition, REach® provides companies access to an insight panel of more than 2,000 practitioners, who help participating startups refine their products.
Companies that have completed the REach® program show impressive results:
- In 2013, six companies raised more than $16.5 million in follow-on financing and companies boasted growth rates ranging from 100-2,000 percent during the course of the program.
- In 2014, three companies have already raised more than $13 million in follow-on financing and the eight companies grew their customer bases by 90 percent on average during the program.
“REach® stands apart from other technology accelerators by creating a virtuous circle where young companies and the real estate industry benefit from each other’s expertise,” said Dale Stinton, NAR CEO. “REach® offers Realtors® cutting-edge technology already vetted by their association while fostering solutions that improve all stages of the homebuying and selling process for the industry. Simultaneously, the program gives startups a unique opportunity to tap the expertise and networks of the leaders of the real estate industry, giving them a step up for success.”
Applications to the REach® Accelerator will be accepted now through January 30th, 2015. There is an early application deadline of December 19, 2014 – companies selected early into the program will have a chance to kick-start their entry into the marketplace. The nine-month program runs from April 2015 through December 2015. For more information about REach® visit www.narreach.com.