August 7, 2024
Chicago, IL, August 6th, 2024 — This month, Second Century Ventures, the strategic investment arm of the National Associations of Realtors® (NAR) announced the seven companies accepted into the 2024 REACH Commercial program.
Photo Courtesy of CoStar, National Association of Realtors Headquarters, Realtor Building, Chicago, IL
REACH, a scale-up program dedicated to accelerating technology companies in real estate and adjacent industries has helped scale approximately 200 companies since 2013. The organization provides promising new companies with networking and community resources necessary for scaling and developing their budding businesses.
The 2024 Commercial Cohort features a broad spectrum of companies addressing critical challenges within the real estate industry. Their innovative solutions encompass everything from vast land deals and property management to streamlined lease agreements, cutting-edge digital marketplaces, and sustainable building practices.
Together, these high-growth enterprises have garnered over $150 million in investment and boast a global workforce exceeding 150 employees.
"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."
Prophia, the industry’s premier contract intelligence solution, distinguishes itself in the 2024 cohort as the sole tech platform driven by proprietary AI. Leveraging the largest private real estate contract repository, Prophia delivers unparalleled contract abstraction, analytics, and automation, empowering clients to make data-driven decisions and optimize their real estate portfolios.
Prophia’s selection for this program is a testament to its commitment to delivering exceptional value to the industry. In participating, Prophia aims to leverage NAR’s platform to expand its reach and deliver its groundbreaking technology to a wider audience of commercial real estate professionals, empowering them with the data-driven insights essential for growth.
“We are thrilled to have been selected and be part of the National Association of Realtors Second Century Ventures NAR REACH program. In particular, excited to leverage the expertise, breadth and scale of NAR to further our growth trajectory!”
- Cameron Steele, Prophia CEO
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.