Second Century Ventures, the strategic investment arm of the National Association of Realtors®, has recently unveiled the inaugural REACH Australia cohort. REACH is a technology growth accelerator program aimed at launching and propelling companies into the real estate industry. In July 2019, Second Century Ventures announced the global expansion of its acclaimed REACH accelerator, with the goal of providing further support to the international real estate sector. REACH Australia marks the first region to be opened outside of the United States.
The launch of the international arm of NAR’s REACH accelerator program signifies a significant step towards achieving NAR’s vision of fostering a dynamic and competitive real estate market that drives innovation and supports their members’ interests. “I am thrilled to welcome the 2020 REACH Australia cohort, consisting of six companies that have showcased the potential to transform and enhance the real estate industry,” stated Bob Goldberg, NAR CEO and President of Second Century Ventures, during the launch of the global expansion of REACH.
Australia’s real estate sector, along with its associated industries, contributes to 29% of the nation’s GDP. Additionally, the United Nations estimates that by 2030, over 1 billion individuals in the Asia Pacific region will relocate from rural to urban areas. The real estate industry, along with the proptech solutions that support it, will play a crucial role in ensuring the future success and sustainability of the region’s cities and communities.
“We are proud to be the first high-growth proptech program to launch its scaleup cohort in Australia and the first region selected for the global expansion of REACH,” expressed Shelli Trung, Managing Partner of REACH Australia. “An exceptional calibre of companies applied for this distinction, making the final selection extremely challenging. We look forward to engaging and growing the real estate community through technology with top tier companies from Singapore, New Zealand and Australia.”
The successful applicants have collectively secured over US$30 million in capital and employ more than 120 individuals worldwide. The selected companies for the REACH Australia Class of 2020 are:
- igloohome: Offering smart access solutions for homes, property owners, and infrastructure industries. Their integrated locks automatically generate time-sensitive PIN codes, ensuring reliable and secure entry.
- PAM (Mediabank): Empowering large venues to become smart precincts through real-time centralized smart navigation. This transformation enhances the overall experience, productivity, and profitability of the venues.
- Sorted: Providing a comprehensive platform that unifies real estate practitioners, landlords, and householders. This platform facilitates collaboration throughout the entire property management life cycle.
- Really: Delivering an integrated B2B solution for project management, e-tendering, and an open marketplace within the real estate sector.
- UbiPark: Bridging smart parking with the smart building revolution by connecting parking solutions to intelligent building systems.
- Uxtrata: Offering a modern cloud-based, full-featured, end-to-end SaaS platform that supports efficient strata management. This platform also includes a convenient payment solution.
Dave Garland, the managing director of Second Century Ventures, expressed excitement about the prospects of six companies and their remarkable technologies, all led by inspiring founders. He emphasized that these companies, as part of the REACH Australia Class of 2020, along with REACH’s ongoing global expansion, will play a pivotal role in driving transformative changes within the real estate industry. This influential network comprises real estate industry professionals, strategic partners, investors, mentors, and innovators.
For those interested in contributing to the advancement of the next generation of real estate technology entrepreneurs, signing up for REACH Australia’s insight panel offers an excellent opportunity. By joining this panel, individuals gain exclusive access to review or receive trial accounts from the REACH Australia Class of 2020.
It is important to note that the National Association of Realtors® stands as the largest trade association in the United States. With over 1.4 million members, it represents professionals engaged in various aspects of the residential and commercial real estate industries.
