Second Century Ventures, the strategic investment arm of the National Association of Realtors (NAR), has announced a number of proptech companies as joining its 2021 REACH Australia class.
Following the program’s launch last year, REACH Australia is once again taking on companies across the real estate, financial services, banking, home services and insurance industries into a growth technology accelerator program to help them hit a new level of success and scale into new global markets.
This year, six companies were chosen for the program, including commercial real estate platform Build-Apps, data and AI platforms Propic and Soho, digital sales process and platform Openn Negotiation, project co-ordination platform Superdraft and self-service software BOOMPower.
“I’m proud that we’ve been able to take the REACH program to new levels over the past two years, leveraging the ingenuity that is driving our industry to ensure realtors remain at the forefront of innovation and the centre of the real estate transaction,” said SCV president and NAR CEO Bob Goldberg.
“Competition anywhere benefits consumers everywhere, and the companies being welcomed today will provide critical support to realtors and their clients in the years ahead.”
In its first year, REACH Australia produced technology and projects that added significant value to the real estate marketplace in Australia, including green field projects, new cities and transformative pilot programs.
For Openn Negotiation, its inclusion in the program is a huge opportunity.
Having recently and successfully launched in New Zealand, Openn Negotiation’s managing director, Peter Gibbons, aims to conquer new markets through the business’s inclusion in the program, ultimately championing the Australian proptech industry.
“We are incredibly excited Openn Negotiation has been invited into the 2021 REACH Australia class. The REACH program opens up enormous market opportunities and it’s a major accelerator in our plans for an international rollout,” Mr Gibbons said.
“We also recognise the huge value in connecting with other participating REACH alumni to partner and develop complementary solutions with our platform… We are excited by the potential for further partnerships.”
With the real estate ecosystem impacted by the recent economic downturn due to COVID-19, REACH Australia’s managing partner, Shelli Trung, believes that the program will help support the recovery of the sector across the region.
“REACH is more important than ever given the exponential increases in technological demands with a workforce that is now simultaneously working from home and returning to the office,” Ms Trung concluded.
The 2021 program will offer involved companies an expansive curriculum, which consists of education, mentorship, exclusive network opportunities and significant exposure to the real estate market across the globe.