Private equity firm GTCR has invested in national real estate analytics, data solutions and valuation technology company Clear Capital, in partnership with Clear Capital’s co-founder and CEO Duane Andrews and its existing management team.
The transaction represents the first outside investment for the 2001-founded company, with GTCR becoming the Company’s majority shareholder and Andrews retaining substantial equity ownership.
Today, Clear Capital is the industry’s leading provider of alternative valuations and technology-powered appraisals, leveraging its advanced technology platform, innovative products and deep customer relationships to differentiate itself in the marketplace.
Clear Capital’s product suite supports over five million real estate and housing finance transactions annually, and its digital floor plan offering, CubiCasa, is used in approximately 30% of all new real estate listings nationwide.
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 leading digital mortgage marketplace and provider of mortgage data analytics and capital markets technology.
In addition, 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 brings over 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.
Wells Fargo and Houlihan Lokey served as financial advisors to GTCR on the transaction and Simpson Thacher & Bartlett served as GTCR’s legal counsel. American Discovery Capital served as financial advisor to Clear Capital and O’Melveny & Myers served as Clear Capital’s legal counsel.
