What are the ideal types of companies to fit into REach™?
Our focus is on technology companies that change the way the world does business. That doesn’t necessarily mean real estate technology companies – in fact, many of our companies won’t first appear to be real estate related at all. Consider, for example, SCV investments DocuSign and Ifbyphone. DocuSign is everywhere from Salesforce to insurance to financial institutions – it is not a real estate technology per se, yet the eSignature is the fasted growing technology adopted within real estate. Similarly, Ifbyphone is also platform found in multiple industries – as a company focused on helping the SMB market track and manage leads, it is an obvious service that could be utilized by the 100,000 brokerage offices across the US. Both companies are improving the way the world conducts business, including the way real estate is conducted.
While there are some interesting real estate specific technologies out there, we get most excited about companies that are applicable in multiple industries of which real estate is one of them. Real estate has to be a core vertical of focus for us to consider a candidate for REach™ or an investment for Second Century Ventures, however, we love companies that can expand beyond real estate. Why?
1) Innovation – we want to bring the advancements that are occurring in other industries to real estate. Instead of catching up, we want to put real estate on the leading edge of efficiency and scale.
2) Market: the real estate market is huge, but we want you to think even bigger
3) Diversification: any company focused on one market only will feel the pain of a cyclical market - real estate is cyclical and companies need to have the ability to thrive in other markets when a downturn occurs in this part of its business
4) Research and Opportunity: Lessons learned from one industry often transfer to another generating economies of scale as companies expand
If you are making a difference in the world and you think your technology can be leveraged within the real estate community, we want you to apply!