REALTORS Invests in Cloud Computing Provider, Symform

The trade association, National Association of Realtors (NAR), has today announced that one of its venture capital funds, Second Century Ventures (SCV), has become a strategic investor in cloud storage and backup service provider, Symform, according to RISMedia.

Dale Stinton, SCV president and NAR CEO, explains that while SCV was created todevelop and supply NAR with key technologies to better serve their customers, the investment in Symform will provide them with additional digital data management resources to “organize and protect the information of home buyers, sellers and investors in the real estate transaction.”

Symform’s cloud storage network differs from traditional methods inasmuch as it digitally encrypts and shreds its data, as well as distributing globally it. This method offers Symform’s customers a high-performance and secure backup system, as well as the opportunity to receive their cloud storage for free if they contribute any excess local drive space to Symform’s network.

Digital security is of paramount importance in every aspect of business and further motivation behind NAR’s investment becomes clear when you examine the 2012 NAR Member Profile. The profile notes that nearly all of its employees report communicating via email each day, as well as the daily use of laptop and desktop computers, and smartphones for a variety of tasks – including managing business contacts, preparing sales documents and general communication.

These reports, coupled with the number of home sales carried out in 2012 in the millions, speaks to the importance of the security of all associated digital information.

“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,” according to its website, and since it is fully capitalised by NAR, SCV’s strategic value is immediately impressive – full access to NAR’s 300 employees and experts, as well as the trade association’s long history and considerable influence in the industry, is nothing to be sniffed at.