REach accelerator early deadline closes Dec. 19th and they're looking for more than real estate startups

by Garrett Reim
December 10, 2014

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The deadline for early acceptance into REach, the Chicago-based real estate company accelerator, is closing December 19th. In recent years, the accelerator has worked with a number of well-known startups including SendHub, WeVideo, BombBomb and SmartZip.

Though REach has only graduated two classes, in 2013 and 2014, some of its portfolio companies already have revenue as high as $11 million and valuations as high as $40 million. The accelerator boasts that it has helped participating companies on average double their customer bases, something that is core to its strategy.

“The whole goal of the accelerator is to help companies establish a customer base,” said managing director Constance Freedman.  “If they get customers they will get investors.”

The REach program lasts about eight months and includes educational seminars, mentorships, access to potential customers, and exposure to the National Association of Realtors’ 1 million members.  

Despite REach’s focus on real estate it also accepts companies in adjacent industries like financial services, banking, home services and insurance industries. Generally, REach looks for SaaS companies focused on big data applications, digital media, financial technology and business services, that can span multiple industries.

“I’m really interested in companies that are in multiple verticals, where real estate is one of them,” said Freedman. “If it is real estate focused only, it is probably too small.”

For early acceptance companies have until December 19, 2014 to send in their applications. The final deadline is January 30, 2015. REach is giving early applicants who are accepted some extra exposure and early opportunities to begin launching into markets. “We find by working with the companies that launch early they have extra success,” said Freedman.

Final company selection will be made in March 2015. The REach program begins in April 2015. REach is part of Second Century Ventures, a venture capital fund capitalized by the National Association of Realtors, a real estate trade organization. 

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