The seven startups in REACH Commercial’s latest category all promise to advance the way the commercial brokerage services industry develops, from green building resource solutions to small business-enabled engines to help entrepreneurs own their own real estate.
Innovation is Inman’s DNA — that’s why we’re excited about August’s event Technology and Innovation Month. We’ll kick things off by expanding our scope to celebrate the companies and individuals driving the industry forward Inman Innovation Award exist Inman Connect Las Vegas. We then continue our celebration of the brightest minds in real estate all month long.
Second Century Ventures, the business investment vehicle of the National Association of Realtors, has announced its newest business cohort, or group of supported companies, to participate in the REACH business program, Inman has learned.
These seven startups all promise to advance the business brokerage industry’s approach, from green building resource solutions to small business support engines to help entrepreneurs own their own real estate. To date, the company has received more than $150 million in funding. Second Century aims to grow this capital through business acumen, education, leadership insights and go-to-market support.
This year’s REACH Commercial cohort was selected from our most competitive application pool to date and is set to have a significant impact on the industry. “They are tackling major challenges in our rapidly growing sector through innovative solutions that reduce carbon emissions, leverage artificial intelligence and big data, and create better fintech solutions to drive real estate transactions. We are grateful for this outstanding team Excited about its potential for substantial growth.
The team consists of a geospatial land research platform called Acres, AI lead generation and market experience solution Infinityy, and Incentifind for green building incentives, which “automates complex data across commercial and industrial properties” and Premise HQ manage”. According to the release.
Cohort member Prophia centers on artificial intelligence to provide investors and operators with ways to maximize building operations for investment purposes, while Rensiar, which bills itself as “the world’s first certified air quality ecosystem,” Withco can help Convert community business leaders into owners to ensure long-term profitability and expense control.
Dave Garland, managing partner at Second Century Ventures, said in a statement that the latest lineup launch is about “driving innovation.”
“By investing in and supporting these forward-thinking businesses, we ensure commercial real estate professionals have access to the latest technology, allowing them to enhance operations, make informed decisions and create value for their clients,” Garland said.
The REACH program launched in 2013 and has since become part of a group of 200 companies seeking to improve the way real estate interacts with its stakeholders, from agents and property inspectors to first-time homebuyers and mortgage brokers. Its alumni include Notarize, Inman Innovator Award Winners Courted and Inspectify, Areyo acquired by Zillow, HighNote and Rental Beast, among others.
In its mid-year outlook for the business sector, JPMorgan said multifamily, retail and industrial are powering the market, while a prolonged period of high interest rates is undermining liquidity strategies.
“While commercial real estate is eager for loan rate relief, lower rates also mean lower returns on liquidity,” as office occupancy rates remain sluggish nationwide, the JPMorgan report said.
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