Newly established UK arm of the REACH real estate technology scale up programme to open application process on 31 July and boost the growing PropTech space.
NAEA Propertymark has partnered with REACH UK, an award-winning scale up programme, to help its members navigate through the PropTech space and the world of technology by selecting the best start-ups and launching them into the marketplace.
REACH is a unique real estate technology programme created by Second Century Ventures, an active venture fund in the global real estate technology space. It is backed by NAEA Propertymark’s bilateral partner in the United States, the National Association of Realtors®. With a presence in the US, Australia, Canada, and the UK, the REACH UK participants will have access to:
REACH has attracted technology start-ups developing solutions for multiple aspects of the real estate industry, including marketing automation, pay at close renovation, agent safety, leasing, lending, transaction management and tokenization, among others. Participating companies show impressive results both during and after programme completion. Specifically, REACH companies have in total raised more than $350 million of follow-on financing and have secured key partnerships with DocuSign, Google, Facebook, Coldwell Banker, RE/MAX and Berkshire Hathaway HomeServices. Graduating REACH companies have also seen revenue, customer and/or user growth rates increase between 50 and 2,000%.
The REACH UK application process will open on 31 July and close on 30th September with selected companies announced in November 2020. The 8 to 9 month virtual and event-based programme will kick off in February 2021.
Mark Hayward, Chief Executive of NAEA Propertymark said: “Proptech is an exciting and growing industry in the UK and the launch of REACH UK’s scale up programme comes at a time when many start-ups will be concerned about their future as a result of COVID-19. This programme will allow them to develop a piece of technology that will make a difference from the very beginning, with early engagement from the sector to make sure that the products work for property agents. We have seen that the programme has had great success in the US and look forward to working with the team to see proptech businesses flourish.”
Valentina Shegoyan, Managing Partner of REACH UK said: “We are excited to work with Propertymark to share the mission of equipping estate agents with the right tools and transforming the industry to reinforce that estate agents remain essential to consumers. We also provide the industry with unique access to programme participants where they can provide direct feedback to help shape and drive the technology. Estate agents will be able to access exclusive insight via our Insight Panel.”