The National Association of Realtors® announced that SmartZip Analytics, the national leader in real estate analytics and predictive marketing, is the first company selected to join the 2014 class of REach™, the strategic growth technology accelerator founded and managed by NAR’s investment arm, Second Century Ventures.
Consistent with REach’s mission to provide a platform from which successful technology companies can launch into the real estate vertical, SmartZip’s combination of big data, sophisticated analytics and marketing automation solutions provide advanced insight into 95 million homes across the country and help real estate agents more efficiently grow their sell-side listings business. Its flagship product, SmartTargeting, integrates patent-pending predictive analytics with precision online, social and offline marketing so agents and brokers can focus their efforts on homeowners with the highest propensity to sell their home. Real estate professionals have reported increased closings, larger home seller pipelines and higher profitability directly related to implementing the SmartTargeting solution.
Real estate is one of the largest industries powering the U.S. economy, representing 2.5 million jobs and 15 percent of the Gross Domestic Product.
“The seven companies in last year’s REach class experienced growth rates ranging from 100 to 2000 percent and collectively raised about $10 million as a result of their success in the program. Innovation in this industry is growing - more than $2 billion were invested into real estate related technology companies last year alone,” said Constance Freedman, NAR Vice President of Strategic Investments and REach Managing Director. “Like most of our portfolio companies – including DocuSign and Planwise – SmartZip exemplifies the kind of company we want as part of REach because its technology offers strategic benefits to the real estate industry and can easily be expanded to address other verticals.”
Avi Gupta, president and Chief Executive Officer of SmartZip Analytics, said, “We are honored that REach selected us to join its 2014 class. Joining forces with NAR and Second Century Ventures validates the importance of our innovative technology to the future of the real estate industry. REach participants have a track record of successfully expanding customer bases and product offerings, and we are confident that working with REach will be pivotal to accelerating our growth.”
REach accepts companies at all stages of growth that wish to address the real estate ecosystem. Designed to focus on education, mentorship and exposure to NAR’s strategic expertise, the accelerator selects just six to 10 companies per year to provide access to one of the world’s largest industries and NAR’s membership.
The accelerator will continue to accept applications at its web site through March 21, 2014. Learn more here.
SmartZip Analytics is a national leader in predictive marketing solutions for real estate and related industries. Using patent-pending home intelligence, predictive analytics and automated marketing, SmartZip’s SmartTargeting platform offers an integrated solution that can identify top prospects accurately and help reach them through precisely targeted online, social and offline marketing campaigns. In addition, leading national real estate companies, including realtor.com® and others, rely on SmartZip’s best-of-breed analytics for their online businesses. SmartZip is backed by Intel Capital, Claremont Creek Ventures and Javelin Venture Partners, and headquartered in Pleasanton, CA.
Second Century Ventures is the strategic investment arm of the National Association of Realtors® focused on promoting innovation in the real estate industry and helping the entrepreneurial spirit of real estate to thrive. NAR can provide immediate strategic value to SCV portfolio companies by allowing them access to the vast resources of a 300-person organization with the expertise, influence and power that comes only by being ingrained in an industry for over 100 years.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
Source: National Association of Realtors®