Today, the Society of Industrial and Office Realtors (SIOR), announced forming a partnership with REACH Commercial, a scale-up program for commercial real estate (CRE) -focused tech companies, according to a press release.
Since its launch in 2013, REACH has graduated more than 160 companies through its global program, which offers tech companies access to brokers and businesses across the world for feedback on real-world processes. The organization says this program helps portfolio companies achieve exponential growth through mentorship, education and market exposure.
“Today’s digital world is forever transforming the way we transact and deliver services,” SIOR CEO Robert Thornburgh stated. “Our partnership with NAR REACH is a critical effort to ensure we stay ahead of these changes, deliver the highest level of resources to our members, and in a larger sense, the entire commercial real estate industry.”
The program, operated by Second Century Ventures (SCV), a large global real estate technology fund and strategic investment arm of the National Association of Realtors, also provides brokers with cutting-edge tools and opportunities to grow their businesses and assist clients.
This partnership is now set to build on REACH’s 2019 expansion into the CRE sector, and connect SIOR’s network of brokers to access to a growing list of commercial real estate startups and their technology.
“This is an outstanding opportunity for companies in the REACH Commercial portfolio to gain access to some of the best and brightest real estate experts in the world,” Bob Gillespie, executive director of REACH Commercial, stated in the release.
“Though we have worked with SIOR members in the past, this new partnership opens up a more intense chapter in our relationship. We are excited to help these budding tech pioneers prosper and create new avenues of prosperity for the entire commercial real estate industry,” Gillespie said.
In addition to this partnership, SIOR also recently joined the CREW Network‘s CRE Pledge for Action to progress the advancement of women and underrepresented individuals in CRE.
In other recent proptech news, Veev announced raising a $400 million Series D to further scale its tech-enabled, prefab homebuilding operations. JLL also beat its expected Q4 earnings due to an emphasis on its growing proptech stack.