Valuations technology and data firm Clear Capital has received a significant investment from private equity firm GTCR.
As a result, GTCR is now Clear Capital’s majority shareholder. CEO Duane Andrews retains substantial equity ownership, the firm says in a release.
The transaction represents Clear Capital’s first outside investment.
GTCR will work closely with Andrews and Clear Capital’s management team to enhance and expand the company’s leading valuation and data offerings, further invest in its technology platform and infrastructure, and accelerate M&A activity.
The investment will also support the continued growth and integration of CubiCasa, which has quickly established itself as the market’s leading digital floor plan solution.
GTCR’s investment builds on the firm’s deep domain expertise across the real estate and mortgage technology ecosystem, including its prior investment in Optimal Blue, a digital mortgage marketplace and provider of mortgage data analytics and capital markets technology.
In addition, experienced technology executive Scott Happ has joined Clear Capital’s board of directors and will serve as an active director and advisor to the company.
Happ has more than 40 years of experience in the mortgage and mortgage technology industry. He previously partnered with GTCR during its investment in Optimal Blue, where he served as CEO from 2016 to 2022.
Prior to Optimal Blue, Happ was the founder and CEO of Mortgagebot, a pioneer in digital mortgage point-of-sale technology.
“Partnering with GTCR represents an exciting new chapter for Clear Capital, enabling us to scale our platform, expand product offerings and continue to provide innovative solutions for the real estate and mortgage industries,” Andrews says in the release. “Our mission remains the same: to build confidence in real estate decisions to strengthen communities and improve lives. Through this strategic investment, we can build upon this mission even further.”