Chicago, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors® and the most active global real estate technology fund, announced today the acceptance of seven companies to the 2024 REACH Commercial program. Launched in 2019, this marks the sixth cohort dedicated to scaling solutions for commercial real estate.
Companies selected for the 2024 program represent a diverse range of solutions across the real estate ecosystem. These innovations span large land transactions, real estate ownership, commercial lease abstraction, digital sales and leasing, lowering of carbon emissions and improving building operations, among others. Collectively, these companies have raised more than $150 million in funding and employ more than 150 individuals worldwide.
“These seven companies are driving innovation within the commercial real estate ecosystem,” said Dave Garland, managing partner of Second Century Ventures. “By investing in and supporting these forward-thinking businesses, we ensure that commercial real estate professionals have access to the latest technologies, empowering them to enhance operations, make informed decisions and deliver value to their clients.”
Companies accepted to the 2024 REACH Commercial program are as follows:
- Acres is a geospatial land research platform designed to empower brokers and agents involved in land transactions.
- Infinityy brings properties to life with immersive AI companions that plan and execute personalized property and neighborhood experiences, capturing leads 24/7 and significantly increasing close rates.
- Incentifind is an incentive resource from search to savings. The go-to database of green building incentives, with $500 million in savings already identified.
- Premise HQ automates complex data management across commercial and industrial properties from completely disparate applications and processes to reduce operational costs, increase capitalization rates and minimize risk.
- Prophia provides commercial real estate investors and operators an AI-driven data management platform to enhance the performance of assets, funds and portfolios.
- Rensair is the world’s first certified air quality ecosystem, using patented hardware and software to cut carbon out of existing HVAC systems and instantly lower emissions and energy use by more than 40%.
- Withco empowers small businesses to become property owners so that they obtain the control, wealth, and permanence only afforded through ownership.
“This year’s REACH Commercial cohort, selected from our most competitive application pool yet, is set to significantly impact the industry,” said Bob Gillespie, managing partner of REACH Commercial. “They are addressing major challenges in our rapidly evolving field with innovative solutions in lowering carbon emissions, leveraging artificial intelligence and big data, and creating better fintech solutions to drive real estate transactions. We are excited about this outstanding group and their potential for substantial growth.”
REACH offers a robust curriculum including education, mentorship, exclusive networking opportunities and significant exposure to the global real estate marketplace. To learn more about REACH and how to get involved, visit nar-reach.com.
About REACH
REACH is a unique technology scale-up program created by Second Century Ventures, the most active global fund in real estate technology. Backed by the National Association of Realtors®, REACH leverages the association’s 1.5 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies scale across the real estate vertical and its adjacent markets through education, mentorship, and market exposure.
About NAR
The National Association of Realtors® is America’s largest trade association, representing 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.
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Information about NAR is available at nar.realtor. This and other news releases are posted in the newsroom at nar.realtor/newsroom.
