Estate agency industry-backed proptech scheme launches next initiative

REACH UK, which is a partnership between Propertymark and its US counterpart, has helped several key UK proptechs including Offr and Sprift.

nathan emerson reach

REACH, the UK’s only estate-agent backed early funding and support programme for proptech firms has completed its first year, heralding the success of several companies within the initial ‘cohort’.

These are property data firm Sprift (pictured, bottom), home buying platform Offr, property software developer Radweb, all of which have been mentored and offered fudning through the scheme, which is operated in the UK by Propertymark in partnership with its US counterpart, the National Association of Realtors.

Others within the cohort include landlord finance platform Hammock, short-term lettings website UnderTheDoormatm, property management tech SmartPoint, robotic cleaning for Commercial real estate Myr.ai, and Net-zero carbon delivery platform SmartPoint.

reach propertymarkThese companies are among some 100 that have been nurtured through their early years across the world both in the US and via similar local schemes similar to the one operated within the UK.

Propertymark Chief Executive Nathan Emerson (pictured) spoke at an event to mark the completion of the REACH scheme’s first year in the UK, and invite applications for 2022.

“Since being selected for the inaugural REACH UK programme, we have seen and felt the positive impact its had on both our business and our ability to meet new people across REACH’s expansive network,” says Steve Rad, CEO of Inventory Base, the parent company of Radweb.

“This has included some of the greatest minds in real estate and proptech. As a company with global ambitions, REACH provides us a platform to reach all corners of the globe with our technology.”

Innovation

valentina shegoyan proptech“We are extremely proud of the success of the inaugural REACH UK program and the calibre of innovation we helped bring to the global stage,” Valentina Shegoyan, Managing Partner of REACH UK (pictured).

“We are excited to continue working with companies that are not only providing immense value to the real estate industry globally but powering further innovation in the market with evolving societal and environmental requirements.”

Funding for the UK and other REACH schemes around the world comes from the US via the NAR’s relationships with venture capital outfit Second City Ventures, which has – so far – backed some 150 proptech firms including, most famously, Docusign.

Companies interested in joining the 2022 programme have until December 17th to apply.

Read more stories about Sprift and Offr.

PICTURES FROM THE DAY

proptech sprift reach uk

offr neil

winnesr reach proptech


One Comment

  1. Great keynote speech by Nathan Emerson CEO Propertymark, likening the cohort companies to infants growing up and being nurtured by the Founders and REACH UK. Followed by polished final pitches by, Axel Hars – MYRAI, Philp Farrell – Offr, Steve Rad – Property Inspect, Tom Selva – Smart Point, Merille Karr – under the doormat, (Hospiria), Manoj Varsini – Hammock.

    It was great to hear also that the NAR; the association of property practitioners who have been around for 130-years, firmly see that technology is here as the next generation of digital solutions to enhance and not replace all professionals in real estate, creating less friction and more profit. That is why I have been such a keen advocate of this whole program, as it is set up to safeguard and de-risk the future. Big thanks to Valentina and Natasha and Paolo from Second Century Ventures.

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