Leading Real Estate Technology Platform Accepted Into The National Association of Realtors® Investment Arm Program
Bellingham, WA; April 7, 2022 —PLACE, the industry’s only all-in-one real estate platform providing technology and services to the top 1% of real estate agents and their customers, was announced today as a member of the National Association of Realtors’ (NAR) 2022 REACH technology growth program. REACH is operated by Second Century Ventures, NAR’s strategic venture arm and the most active global real estate technology fund. PLACE’s position in the NAR REACH program will propel the proptech company’s immense growth across the real estate vertical and adjacent markets through education, mentorship, networking and exposure.
“We wake up everyday working hard to build technology that helps keep the agent relevant in every real estate transaction,” said fellow realtor and PLACE Co-founder Ben Kinney. “It’s an honor to be selected by NAR REACH, as a brokerage agnostic technology platform built specifically for the nations top REALTORS(R), teams, and brokerages.”
The 2022 REACH and REACH Commercial programs includes 17 companies that represent a combined valuation of $1.4 billion and have raised more than $200 million in funding. Last fall, PLACE announced a Series A funding round of $100 million, led by the growth equity business within Goldman Sachs Asset Management and participation from 3L Capital. PLACE is currently valued at more than $1 billion.
“Not only are we celebrating the depth of a 180-plus company strong portfolio and the continued expansion of the REACH program, but we are also scaling some of the most ground-breaking technologies the industry has witnessed to date,” said Dave Garland, managing partner, Second Century Ventures. “The 2022 NAR REACH and REACH commercial programs represent the top new companies in property technology, whose teams are as talented as the innovation they deliver.”
PLACE partners with leading real estate agents and teams from a variety of brokerage brands across the US and Canada. Together, PLACE and its partners provide a suite of residential services, including simplified mortgage, title, insurance and home maintenance solutions, to streamline the real estate ecosystem. Teams powered by PLACE receive an end-to-end suite of software solutions and business services that include administrative support, marketing and branding, lead generation, accounting, legal, HR, back-office infrastructure, and training for all positions.
“We are so excited to work hand-in-hand with these pioneering companies to ensure that Realtors® remain at the forefront of the real estate industry,” said SCV President and NAR CEO Bob Goldberg.
PLACE’s consumer and business services increase the value proposition for agents to drive customer retention. Upon affiliating with PLACE, partners and their teams experience an increase in sales volume, agent productivity, bottom-line profitability, and customer loyalty.
PLACE, the industry’s only fully integrated technology and business-services platform, powers high-performing real estate agents and their teams to drive greater scale and efficiency, consumer value, and profitability. For more information, please visit www.place.com or follow us on Facebook, Twitter, or Instagram.
REACH is a unique technology scale-up program created by Second Century Ventures, the most active global fund in real estate technology. Backed by the National Association of Realtors®, REACH leverages the association’s more than 1.5 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies scale across the real estate vertical and its adjacent markets through education, mentorship, and market exposure.
The National Association of Realtors® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.