Real Estate

NAR’s Venture Capital Fund Picks Knock, Other Startups For REACH Program

Second City Ventures, which is an arm of NAR, has chosen Knock and seven other startups to be a part of the 2021 REACH scale-up program.

Second City Ventures, an investment firm that is part of the National Association of Realtors (NAR), announced Monday that it has chosen eight different real estate technology companies to help as they work to expand their scale.

The eight companies will be a part of the 2021 “REACH scale-up program,” according to a statement from NAR. The best-known firm on the list, at least to Inman readers, is probably Knock, which via its Home Swap product tries to streamline the homebuying and selling process while effectively turning consumers into cash buyers.

Last month, Knock revealed it had hired Goldman Sachs to help it go public.

Other companies joining the latest REACH cohort include Aryeo, which enables collaboration between real estate professionals and offers various content management solutions; furniture rental startup Feather; K4Connect, which develops technology for senior living communities; rent-to-own startup Landis; consumer experience platform Milestones; valuation forecaster Plunk; and home care tech startup Super.

In its statement, NAR said the 2021 Reach program will “focus on scaling high-growth potential technology companies in and beyond the residential real estate sector.” The statement adds that as part of the program the companies will get “education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace.”

Bob Goldberg

Bob Goldberg, CEO of NAR and president of Second City Ventures, also said in the statement that there are currently “factors which will pose long-term challenges to America’s housing market, and every problem we face will require innovative solutions from both the private and public sectors.”

“Through the REACH program,” Goldberg continued, “we are able to help facilitate these critical conversations by supporting forward-thinking small businesses, investments today which will allow us to overcome the complex problems of tomorrow.”

In its statement, NAR also described Second City Ventures “as the most active global venture fund in real estate technology.” In the past, the fund’s REACH program has invested in an array of high-profile companies such as Abode, Adwerx, BoxBrownie, DocuSign, Notarize, Zavvie and many others. The program began in 2013 and has since graduated 62 companies.

Kia Nejatian

Kia Nejatian, executive director of the REACH program, added that “the continued success of our industry is dependent on technology that benefits homebuyers, sellers and the Realtor community.”

“This group of eight companies has been hand selected from an impressive pool of applicants,” Nejatian added in the statement, “based on the incredible potential for their solutions to transform the real estate transaction.”

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