Fayetteville, Ark., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Acres, the leading land intelligence platform created by AcreTrader Inc., is pleased to announce its acceptance into the 2024 REACH Commercial program. Launched in 2019 by Second Century Ventures, the strategic investment arm of the National Association of Realtors® and the most active global real estate technology fund, Acres is one of seven companies accepted into the sixth REACH cohort which is dedicated to scaling solutions for the commercial real estate vertical and its adjacent markets through education, mentorship, and market exposure.
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, the selected companies have raised more than $150 million in funding and employ more than 150 individuals worldwide.
“Our acceptance into the 2024 REACH cohort is a significant milestone for Acres as a company that’s dedicated to providing our customers access to reliable, up-to-date land data crucial for creating a more efficient and transparent land marketplace. While our product has infiltrated the dedicated land broker space, with the REACH program we are granted access to invaluable customer introductions and networking opportunities to expand beyond our current market in addition to being part of a community of like-minded entrepreneurs and advisors, enhancing how we innovate and scale,” stated Acres Founder and CEO Carter Malloy.
"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."
About Acres
Acres is a map-based land intelligence platform designed to bring transparency to America’s largest asset–land. Using public and private market data, Acres aggregates and analyzes over 150 million parcels of land to enable users to better understand and value land with confidence. By providing access to a comprehensive and more accurate compilation of land data, comparable sales, and parcel-level insights, Acres supports fast, informed decision making. Visit Acres.com to learn more.
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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