Second Century Ventures (SCV), the strategic investment arm of the National Association of Realtors (NAR), announced the names of the eight companies it has chosen to participate in the REACH Australia program in March of this year.
REACH Australia is led by managing partner Peter Schravemade, director Ebonnie Schravemade and entrepreneur in residence Tom Ellis.
“This portfolio has demonstrated tremendous relevance and innovation to the global real estate industry, and we are excited about the growth 2023 will bring,” Schravemade said in a statement from SCV.
The companies were chosen based on the technologies they employ and the extent in which they can impact the real estate industry, according to the statement.
The eight companies include smart home technology and property management company Sensor Global, renter payment app Liz, optimization engine QuantPS or Quant Property Solutions, and property management platform Tapi.
The other companies include ListAssist.ai, a company that writes listing descriptions using AI, offer management platform MarketBuy.com.au, conveyancer and lawyer SaaS solution Realtime Conveyancer, and real estate social media marketing company Properti.ai.
The tech accelerator program has been running for four years and provides cohort participants access to investors, exposure to networking events including an ‘insight panel’ of 10,000 real estate professionals, and community-building with more than 100 alumni companies.
The program also leverages 100 bilateral partnerships in 85 countries and a portfolio of more than 100 technology companies.
The other cohorts include REACH Commercial, REACH Canada and REACH UK. SCV manages a portfolio of over 200 technology companies through these programs.
Last year, SCV chose 17 companies for the REACH program — eight from the residential sector and the other nine from the commercial sector. The cohort, in turn, pays SCV a marketing fee and equity stakes in their companies.
Last year’s companies included Courted, Fractional, Inspectify, leadPops, PLACE, Perchwell, Reggora and Revive for the residential cohort and Arx City, B-Line, CREtelligent, LeaseUp, Matrix Rental Solutions, Spackle, Stake, Stratafolio and WhoseYourLandlord for the commercial cohort.
REACH is sponsored by companies like Amazon Web Services, First American Data & Analytics, HubSpot for Startups, Zendesk for Startups, eWebinar, BombBomb, Microsoft for Startups, Message Media, Boast.ai, Dentons, Freshworks, RSM and TrustStamp.
SCV recently led the funding round for real estate tech company zavvie, bringing its total to funding $3.65 million.
