CALGARY, TORONTO (June 23, 2020) – The newly established Canadian arm of the REACH real estate technology accelerator is now accepting applications for its inaugural program. The award-winning initiative was created by Second Century Ventures, the strategic investment arm of the National Association of Realtors®.
REACH offers education, mentorship and exposure for technology companies aiming to launch into the real estate industry, accelerate their businesses and expand into adjacent markets such as insurance, mortgage and financial services. REACH provides a unique opportunity for technology companies to earn sizable exposure within a $1 trillion industry made up of more than 100,000 small- and medium-sized businesses and generating over $12.5 billion in annual advertising spend in the U.S. alone. As part of REACH’s recent global expansion, REACH Canada will offer a select group of entrepreneurs access to a worldwide network of peers, mentors and investors in conjunction with its sister programs in the U.S., Australia and the U.K.
“This past year has highlighted how organizations of every size will need to innovate, evolve and adapt in order to succeed in the markets of the future. We’ve also been reminded of how small our world can be, and how critical global partnerships are in our search for solutions to the problems we face every day,” said Bob Goldberg(link is external), CEO of the National Association of Realtors® and President of Second Century Ventures. “We are excited to officially open applications for REACH Canada, the second REACH program opened outside the United States, and we have immense faith in the REACH Canada team’s ability to source the top proptech innovators who will propel real estate in North America and beyond.”
REACH has attracted technology startups developing solutions for multiple aspects of the real estate industry, including marketing automation, pay at close renovation, agent safety, leasing, lending, transaction management and tokenization, among others. Participating companies show impressive results both during and after program completion. Specifically, REACH companies have in aggregate raised more than $350 million of follow-on financing and have secured key partnerships with DocuSign, Google, Facebook, Coldwell Banker, RE/MAX and Berkshire Hathaway HomeServices. Graduating REACH companies have also seen revenue, customer and/or user growth rates increase between 50 and 2,000%.
“The COVID era is accelerating the adoption of technology in real estate along with many trends that had already been evolving, as consumers demand further innovation to support their ability to transact real estate in a post-COVID world. Building on the expertise and proven track record of the REACH program in the U.S. and now Australia, REACH portfolio companies have an unprecedented opportunity to accelerate their growth and capitalize on the rapid revolution of the global proptech landscape, in close conjunction with the Realtor® community,” said Lynette Keyowski, REACH Canada Managing Partner.
Participants in the REACH accelerator receive numerous benefits, including:
Applications for REACH Canada will be accepted through July 31, 2020, at www.narreach.ca(link is external). The 8-month virtual and event-based program will kick off in October and run through May 2021.
For more information about REACH Canada, or to submit an application, visit www.narreach.ca(link is external).
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.