Chicago, Nov. 19, 2024 (GLOBE NEWSWIRE) — The National Association of Realtors(R)' REACH technology growth program has been awarded PropTech Outlook's 2024 Accelerator of the Year. This commendation reinforces REACH's vital role in supporting and accelerating innovation within real estate and adjacent industries.
REACH was created by Second Century Ventures, NAR's strategic investment arm. As the most active venture fund in global real estate technology, REACH leverages an unparalleled network of 1.5 million NAR members and executives from across the residential and commercial real estate sectors.
“Being recognized as 2024 Accelerator of the Year highlights REACH's incredible journey from its first U.S.-based program in 2013 to now operating across seven major markets,” said Ashley Stinton, managing partner, NAR REACH. “Fostering a community of more than 250 technology companies, this award celebrates the powerful partnerships and collective efforts that are transforming real estate worldwide.”
In 2024, REACH welcomed 55 new companies across seven global programs, offering solutions in building automation, decarbonization, brokerage, finance and banking, asset and property management, data analytics and more. As part of one of the world's largest asset classes and a major aspect of the global economy, REACH's role in advancing real estate innovation is a key contributor to economic growth and job creation.
REACH operates two programs for the U.S. market – residential and commercial – as well as programs in the United Kingdom, Canada, Australia and New Zealand, Latin America, and Israel, with ambitions to serve additional markets in future years. The REACH program accelerates promising new technologies through mentorship from a deep and diverse pool of thought leaders, education from industry experts, and market exposure through Demo Days and unique partner events in each program region. REACH taps into the unique strengths and opportunities of each market by fostering networks of local experts and partners.
“REACH UK's unique co-investment partnership with industry organizations Propertymark and TDS has enabled us to foster even greater industry collaboration and support for our startups, accelerating their growth and market reach,” said Natasha Terinova, managing partner, REACH UK. “The strength of REACH lies in our ability to scale innovative startups globally while delivering tailored support that addresses regional market needs.”
Applications are currently open for REACH programs serving the U.S. residential sector, the United Kingdom, Australia and New Zealand, Latin America, and Israel. Entrepreneurs driving innovation in real estate and adjacent industries are encouraged to learn more and apply at narreach.com.
About the National Association of Realtors(R)
The National Association of Realtors(R) is America's largest trade association, representing 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor(R) is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors(R) and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.
About REACH
REACH is a unique technology scale-up program created by Second Century Ventures, the most active global fund in real estate technology. Backed by the National Association of Realtors(R), Second Century Ventures leverages the association's 1.5 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies scale across the real estate vertical and its adjacent markets through education, mentorship and market exposure. For more on REACH, visit narreach.com.
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Information about NAR is available at nar.realtor. This and other news releases are posted in the newsroom at nar.realtor/newsroom.
Spencer HighNational Association of Realtors(R)shigh@nar.realtor