Vancouver, BC — June 29, 2022 — Espresso Capital announced today that it has extended a junior credit facility to Clariti Cloud Inc., a leading provider of government permitting and licensing software. The Vancouver-based company will use the financing to help fuel its continued growth.
“We’re experiencing a tremendous amount of momentum right now,” said Cyrus Symoom and Jake Dancyger, Co-CEOs of Clariti. “In the past year, we’ve partnered with several leading governments such as Yolo County and the City of Irvine, and continue to see strong demand for Clariti’s platform in market. This capital will go directly into our sales, marketing, and product teams so we can continue to provide the best possible permitting and licensing experiences for our customers.”
Clariti was acquired by Explora LP in January 2020, a search fund founded by Symoom and Dancyger. The cloud-based SaaS company offers solutions for a wide range of use cases ranging from building permitting and land management, to professional licensing and multi-use enterprise systems. Offering an intuitive interface and capabilities that can be configured with clicks, not code, Clariti is the go-to solution for governments striving to empower staff and speed up approvals with work streams that are easy for everyone.
“We were impressed by Cyrus and Jake and the value proposition they are delivering to their customers,” said Espresso Capital Executive Director, Mark Gilbert. “That, combined with Clariti’s great product and strong retention metrics, makes it a very attractive business.”
Clariti’s other existing investors include Trilogy Search Partners and Pacific Lake Partners.
About Clariti Cloud Inc.
Clariti is a 100 percent software-as-a-service (SaaS) company offering empowering and easy-to-use permitting and licensing solutions for state and local governments across North America.
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.