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An investment from a US association will allow a real estate industry communications platform to extend its global reach.
ActivePipe, a Melbourne-based company, has been chosen to be one of eight companies to be part of the National Association of Realtors Second Century Ventures 2018 REach accelerator program.
ActivePipe works for over 10,000 real estate agents and helps agencies in identifying and converting potential buyers and sellers.
Not only was ActivePipe chosen to be part of the REach program, but the National Association of Realtors (NAR), America’s largest trade association, has also taken a minor stake in the company.
The REach program provides access to NAR’s industry expertise, influencers and contacts in the US real estate space.
ActivePipe is one of two global companies chosen to participate in the year’s program and to gain access to the NAR member network.
The announcements comes off the back of $5.9 million Series A funding round and the set-up of an office in Texas earlier this year.
Ashley Farrugia, CEO of ActivePipe, was grateful for the opportunity to partner with NAR as they move into the US.
“The opportunity for ActivePipe to be front and centre with NAR’s 1.3 million members will undoubtedly deliver fruitful growth in the US, complementing our current efforts which is already showing great potential,” the CEO said.
Mike Feller, the US vice president of ActivePipe, said that he was excited to expand into the US marketplace.
“ActivePipe’s path in the US is an exciting one. We are aiming to penetrate the US realtor’s community by continuing to develop and fine-tune our products and services and to make it a must-have property technology for all real estate professionals,” Mr Feller said.
Dave Garland, a partner at Second Century Ventures which oversees the Reach program, said that they saw great potential in ActivePipe and wanted to see them succeed in the US market.
“Early indications in the US demonstrate that ActivePipe can deliver an outstanding platform for real estate practitioners to succeed. We look forward to helping them accelerate their entry to the US market over the next year and beyond,” Mr Garland said.
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