Clariti has secured $10 million in growth capital financing from CIBC Innovation Banking for its permitting and licensing software solutions for North American local governments.
The company also recently received an investment of $18 million from Vistara Growth, according to a Wednesday (June 26) press release.
Clariti will use the funding to develop new features, support the integration of permitting technology provider Camino, which it acquired in 2023, and invest in its customer service teams, per the release.
“With the CIBC Innovation Banking facility in place we can confidently accelerate plans to scale our customer-facing teams during a time of continued leading growth,” Clariti co-CEO Cyrus Symoom at said in the release. “Additionally, Vistara Growth’s investment underscores confidence in our innovative solutions driving digital transformation across government operations, simplifying processes and enhancing citizen services.”
Clariti’s platform helps governments of all sizes simplify and modernize their planning and permitting process, according to the release. It covers everything from preapplication to review and approval.
Local governments across Canada and the United States have deployed the platform and have reported that it delivers greater staff and resident satisfaction, reduces calls and counter visits, and shortens permit issuance time, per the release.
“We’ve been impressed with Cyrus and his team since they first acquired Clariti and could not be happier to be joining them on this journey,” Joe Timlin, managing director at CIBC Innovation Banking, said in the release. “They are well positioned to continue to grow in this space and provide quality community development solutions for their customers.”
In another recent development in the GovTech space, Paymerang and Harris ERP said in May that they partnered to provide advanced invoice and payment automation solutions to local governments. With this collaboration, Paymerang’s accounts payable (AP) automation tools will be delivered to local governments via Harris ERP’s enterprise resource planning (ERP) system, CitySuite.
In the construction sector, Trimble acquired Flashtract in May, saying it would add construction payment, compliance and lien waiver capabilities to its connected construction technology ecosystem. Flashtract’s technology streamlines the flow of payment and compliance information between construction general contractors and subcontractors.