Investment Strategy Boosted Through Financing Obtained from GTCR at Clear Capital
GTCR, a leading private equity firm, has made a strategic investment in Clear Capital, a prominent player in the real estate analytics, data solutions, and valuation technology sectors. The investment marks a significant step forward for Clear Capital, aimed at enhancing its capabilities, expanding its services, and strengthening its position in the competitive real estate technology market.
Clear Capital's co-founder and CEO, Duane Andrews, will continue to lead the company's strategic direction, retaining substantial equity ownership. Duane is working closely with GTCR to support Clear Capital's growth and enhance its market position.
To achieve this, GTCR plans to focus on expanding Clear Capital's valuation and data services. This includes accelerating mergers and acquisitions to further solidify its market presence. The investment aims to support Clear Capital's growth initiatives, bolstering its leadership in the mortgage and real estate industries.
GTCR also plans to invest in strengthening Clear Capital's technology infrastructure. A key focus is the integration of CubiCasa, Clear Capital's digital floor plan tool, which is already used in about 30% of new real estate listings nationwide. This integration will further enhance CubiCasa's capabilities, providing more innovative products and services to Clear Capital's customers.
Scott Happ, an experienced tech executive, has joined Clear Capital's Board of Directors as an advisor. Scott previously collaborated with GTCR during its investment in Optimal Blue, serving as CEO from 2016 to 2022. His expertise in technology and financial services will be instrumental in driving transformational growth for Clear Capital.
David Lalo, Director at GTCR, is excited about the new partnership, looking forward to partnering with Duane Andrews and the Clear Capital team to accelerate the company's growth. The partnership is designed to enhance Clear Capital's capabilities, expand its services, and strengthen its position in the real estate technology sector.
Clear Capital, headquartered in Reno, Nevada, manages over five million transactions annually and has been in operation since 2001. The investment marks Clear Capital's first external financing, with GTCR becoming the majority owner. GTCR also plans to pursue strategic acquisitions to further expand Clear Capital's product set.
The partnership with GTCR will enable Clear Capital to continue delivering exceptional value to its customers, further cementing its position as a leader in the rapidly evolving real estate analytics market. Simpson Thacher & Bartlett served as GTCR's legal counsel, while American Discovery Capital served as financial advisor to Clear Capital and O'Melveny & Myers served as Clear Capital's legal counsel. Wells Fargo and Houlihan Lokey served as financial advisors to GTCR on the transaction.
Duane Andrews, the co-founder and CEO of Clear Capital, will continue to lead the company's strategic direction while retaining substantial equity ownership. With GTCR's investment, Clear Capital aims to bolster its leadership in the mortgage and real estate industries by focusing on expanding valuation and data services, integrating technology like CubiCasa, and pursuing strategic acquisitions.
Scott Happ, an experienced tech executive, has joined Clear Capital's Board of Directors as an advisor. His expertise in technology and financial services will be instrumental in driving transformational growth for Clear Capital as it partners with GTCR to enhance its capabilities, expand services, and strengthen its position in the real estate technology sector.
