Second Century Ventures Brings Cloud Computing to Realtors(R)
WASHINGTON, DC, Jan 16, 2013 (MARKETWIRE via COMTEX) --
The National Association of Realtors(R)' venture capital fund Second
Century Ventures has become a strategic investor in Symform, a
revolutionary, distributed cloud backup service.
"Second Century Ventures was created to help develop and deliver real
estate industry technologies to Realtors(R) so they can best serve
their clients and customers," said Dale Stinton, SCV president and
NAR chief executive officer. "This investment in Symform will give
Realtors(R) access to electronic data management resources they can
use to organize and protect the information of home buyers, sellers
and investors in the real estate transaction."
Unlike traditional data center storage, the Symform Cloud Storage
Network encrypts, shreds and globally distributes data. This
technology provides a secure and high-performing cloud backup system.
Customers join the Symform network by contributing excess local drive
space and, in exchange, receive free cloud backup.
According to the 2012 NAR Member Profile, nearly all Realtors(R)
report using e-mail and desktop or laptop computers every day, nearly
eight in 10 reported daily use of smartphones with wireless e-mail
and Internet capability, and most also heavily use contact
management, document preparation, and electronic contact and forms.
With approximately 4.7 million existing-home sales completed in 2012
alone, each with their own contact, contracts and supporting
documents, the need for effective data backup solutions across
multiple platforms is evident.
"Symform's unique decentralized solution is particularly suited to
the business needs of NAR's members," said Symform CEO Matthew J.
Schiltz. "Our cloud storage offerings will allow Realtors(R) to
safely and cost-effectively backup real estate transaction data and
help them organize that information to best serve their clients."
Second Century Ventures is a venture capital fund focused on
promoting innovation in the real estate industry and helping to
enable the entrepreneurial spirit of real estate thrive. SCV has been
fully capitalized by the National Association of Realtors(R). NAR can
provide immediate strategic value to Second Century Ventures'
portfolio companies by allowing them access to the vast resources of
a 300-person organization with expertise, influence and power that
comes only by being ingrained in an industry for over 100 years.
The National Association of Realtors(R), "The Voice for Real Estate,"
is America's largest trade association, representing 1 million
members involved in all aspects of the residential and commercial
real estate industries.
Information about NAR is available at www.realtor.org. This and other
news releases are posted in the "News, Blogs and Video" tab on the
For further information contact:
SOURCE: National Association of Realtors
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