- Urbanimmersive (UI) has been selected to participate in the 2021 REACH Canada Accelerator Program
- Urbanimmersive will provide mentorship and exposure for technology companies looking to expand into adjacent markets
- REACH Canada has invested $126,800 in Urbanimmersive through the issuance of 134,894 units
- As partial compensation for REACH Canada advisory services, Urbanimmersive has granted them 80,000 share purchase options
- Urbanimmersive is a SaaS company that provides content solutions for the real estate market
- Urbanimmersive Inc. (UI) is up 3.80 per cent, trading at C$0.82 per share at 11:30 am ET
Urbanimmersive (UI) has been selected to participate in the 2021 REACH Canada Accelerator Program.
REACH Canada is a unique growth program that helps innovative technology companies to scale across the real estate marketplace.
REACH Canada offers a technology scale-up program, developed by Second Century Ventures, the strategic venture arm of the National Association of REALTORS®. Urbanimmersive and 9 other selected participants will take advantage of this program to offer mentorship and exposure for technology companies looking to expand into adjacent markets.
Selected companies have to fill a gap in the marketplace and provide an innovative solution that is in strong demand today and in the future.
As part of the program, REACH Canada has invested $126,800 in Urbanimmersive through the issuance of 134,894 units at a price $0.94 per unit.
As partial compensation for REACH Canada advisory services, Urbanimmersive has granted them 80,000 share purchase options. These options are exercisable at $0.94 per share and expire on September 29, 2026.
“Urbanimmersive’s goals are well-aligned with those of REACH Canada, which are to deliver improved customer experiences to both homeowners and realtors while empowering agents through the use of their immersive and interactive AI-backed 3D SaaS innovative solutions. We feel that, as part of our roadmap over the next seven months, we can contribute in Urbanimmersive’ success by making strategic introductions to them and assisting in the execution of their aggressive growth plan”, said REACH Canada managing partner Lynette Keyowski.
Simon Bedard, Chief Financial Officer of Urbanimmersive commented on the opportunity.
“We are very proud of being selected by REACH Canada and happy to welcome REACH as a new strategic investor of Urbanimmersive. Their strong knowledge and expertise of the real estate market and their extended network would certainly be beneficial for us.”
Urbanimmersive is a SaaS company that provides solutions to visual content providers in the real estate residential, commercial, construction, and local business markets. These include a website-builder tool, AI-backed image indexing, robust file transfer systems and interactive visual technology solutions.
Urbanimmersive Inc. (UI) is up 3.80 per cent, trading at C$0.82 per share at 11:30 am ET.
