Second Century Ventures, the venture capital arm of trade association the National Association of Realtors (NAR), is set to exit referral management platform Reach150 in an acquisition by marketing technology producer SmartZip Analytics.
Reach150 has built a referral management platform that generates online advertising through an app that can request, review and publish recommendations from past clients.
SmartZip, a developer of predictive marketing technology for the real estate industry, will integrate Reach150’s technology into its SmartTargeting software. It has not disclosed the amount it paid for the company.
Reach150 was one of seven startups to graduate from NAR’s Reach accelerator in 2013, picking up funding from Second Century Ventures in the process. Another Reach150 investor, VC firm Toba Capital, is investing an undisclosed amount in SmartZip as part of the round.
SmartZip had previously raised approximately $26m in debt and equity financing from investors including Intel Capital, the corporate VC subsidiary of chipmaker Intel, and financial services provider Orix USA.