The National Association of Realtors has chosen eight startups for its 2022 tech accelerator program for residential real estate, the trade group announced Tuesday.
Courted, Fractional, Inspectify, leadPops, PLACE, Perchwell, Reggora and Revive were all chosen to participate in the trade organization’s REACH tech accelerator. Second Century Ventures, NAR’s venture capital arm, runs both REACH and REACH Commercial, its tech accelerator for commercial real estate.
“The innovative companies that have come out of the REACH program over the years have had a dramatic effect on the real estate landscape,” said SCV President and NAR CEO Bob Goldberg in a statement.
“The influence of technology in this industry is undeniable and the entrepreneurs in REACH continue to redefine our understanding of what is achievable today,” Goldberg added. “We are so excited to work hand-in-hand with these pioneering companies to ensure that Realtors remain at the forefront of the real estate industry.”
SCV launched REACH, which is focused on residential real estate, in 2013 and this is the tenth group the for-profit company has accepted into the program.
REACH offers startups education on the real estate industry as well as mentoring and networking opportunities with industry professionals to enable them to scale up. In exchange, accepted companies pay SCV a marketing fee and hand over small equity stakes in their company.
The companies chosen for the 2022 cohort focus on agent networking, fractional property ownership, inspections, lead generation, top producers, real estate data, appraisal management, and renovations. They have raised more than $200 million in funding altogether and represent a combined valuation of $1.4 billion, the 1.5 million-member trade group said in a press release.
One of the companies is Perchwell, a real estate data visualization, search, and collaboration platform for agents and their clients. Perchwell just signed a partnership deal with the Multiple Listing Service of Greater Cincinnati and is partially owned by California Regional MLS.
In a statement, Dave Garland, SCV’s managing partner said the company was marking “significant milestones” this year.
“Not only are we celebrating the depth of a 180-plus company strong portfolio and the continued expansion of the REACH program, but we are also scaling some of the most ground-breaking technologies the industry has witnessed to date,” he said.
Here are the companies accepted into REACH 2022 as well as their NAR-provided descriptions:
- Courted : Professional networking platform empowering agents to make better data-driven marketing, hiring and referral decisions.
- Fractional: Collaborative, full-service, community-driven real estate investing marketplace.
- Inspectify: Applies the latest technology to make inspectors more proficient and effective.
- leadPops: All-in-one solution to drive traffic, boost SEO and increase both volume and quality of leads.
- PLACE: All-in-one platform for top producers delivering unparalleled consumer experiences.
- Perchwell: Unifies real-time market analysis, listing data, seamless client collaboration and reporting.
- Reggora: Appraisal management platform delivering unprecedented efficiency and agility.
- Revive: Brings certainty to the renovation experience to homeowners across the nation.
SCV also chose nine companies to participate in its 2022 REACH Commercial program: Arx City, B-Line, CREtelligent, LeaseUp, Matrix Rental Solutions, Spackle, Stake, Stratafolio and WhoseYourLandlord.
Local Realtor associations recently began piloting their own real estate tech accelerators as part of NAR REACH Labs, local extensions of the trade group’s tech accelerator.