Canadian proptech ventures to be groomed for growth

Canadian proptech ventures groomed for growth

Thursday, June 10, 2021

Canadian proptech ventures are invited to apply to a new round of the REACH Canada scale-up program. This is the second year the United States National Association of Realtors (NAR) will search the Canadian market for promising technologies for the commercial and residential real estate sectors. NAR also pursues similar opportunities in the U.S., United Kingdom and Australia.

“We are excited to open applications for REACH Canada’s 2021 class and we look forward to welcoming a new group of proptech innovators,” says Bob Goldberg, NAR’s chief executive officer and the president of NAR’s investment arm, Second Century Ventures. “Their ideas and entrepreneurial spirit help ensure realtors continue to have access to the latest technology.”

Through the REACH program, successful applicants are offered accelerator services for their products and innovations, building on NAR’s extensive membership and reach in the global real estate industry. The selected Canadian proptech ventures are promised direct mentorship from up to 50 real estate, mortgage, venture capital and technology influencers, along with NAR’s guidance and access to prominent real estate industry conferences, tradeshows and networking events.

They’ll also join the growing ranks of REACH companies and alumni — including the eight inaugural REACH Canada designees from 2020 — presenting opportunities to forge alliances with entrepreneurs in a similar sphere and stage. Thus far, approximately 150 REACH companies have collectively raised more than $800 million in financing and garnered a 2,000 per cent jump in revenue. Many have inked deals with major real estate and/or technology players.

“Many REACH companies have become household names,” observes Lynette Keyowski, REACH Canada managing partner. “On the heels of our first successful program, we are extremely excited to continue working with companies that are not only providing immense value to the practitioner and consumer, but empowering solutions, companies and founders alike that are bringing new solutions, perspectives and strength to an evolving market and a new societal norm.”

The application intake is open until July 31. The eight-month REACH program, in virtual format, will run from October 2021 to May 2022.

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