TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
June 27, 2024
Source: Morningstar
CIBC Innovation Banking today announced $10 million in growth capital financing for Clariti, a leading provider of purpose-built community development solutions for North American local governments. This funding will accelerate the development of new product features, support the ongoing integration of permitting technology provider Camino, which was acquired by Clariti in 2023, and be reinvested in customer service teams to support the company’s rapidly growing customer base across North America.
Clariti’s platform helps governments of all sizes simplify the permitting process, from pre-application to review and approval. Clariti customers report greater staff and resident satisfaction, and a significant reduction in calls, counter visits, and permit issuance time. Clariti is trusted by many local governments across Canada and the United States. The cities of Albany, NY, and Honolulu, HI, recently announced selecting Clariti to simplify and modernize their planning and permitting processes, and the City of Tampa, FL launched Clariti's Camino Guide to help customers quickly identify the permits they need and the steps to submit their applications correctly.
Clariti also recently received an investment of $18 million by Vistara Growth that in combination with CIBC Innovation Banking will accelerate growth across the company.
“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,” said Cyrus Symoom, Co-CEO, Clariti. “Additionally, Vistara Growth’s investment underscores confidence in our innovative solutions driving digital transformation across government operations, simplifying processes, and enhancing citizen services.”
“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,” said Joe Timlin, Managing Director, CIBC Innovation Banking. “They are well positioned to continue to grow in this space and provide quality community development solutions for their customers.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.
About Clariti Software
Clariti’s community development software helps some of the largest cities in North America deliver exceptional permitting experiences for customers and staff. Our software offers unmatched scalability for governments to shape their system to work how they need, and today helps one in three citizens in North America easily access community development services online. In 2024, Clariti was named to the GovTech 100 List for the third consecutive year. To learn more about Clariti and its solutions, visit https://www.claritisoftware.com.
Beth McKay, beth.mckay@cibc.com, 416-552-1391
Jeremy Bosch, jeremy.bosch@claritisoftware.com, 250-571-0729
View source version on businesswire.com: https://www.businesswire.com/news/home/20240626748381/en/