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Permitting Tech Firm Clariti Raises $10M After Acquisition

The capital, which closely follows another fundraising round, will help the company’s ongoing integration of Camino Technologies. A Clariti executive explains what’s going on and what the future holds.

Closeup of a person pressing a stamp down on a piece of paper on a table. There is an open laptop on the table next to the paper.
Clariti, which sells permitting and licensing tools to public agencies, has raised $10 million as the company eyes double-digit growth for the third consecutive year.

The capital came from CIBC Innovation Banking.

This latest round of fundraising comes just more than a year after Clariti bought Camino Technologies, a younger company that operates in the same area of government technology.

The new funding follows a recent round in which Clariti raised $18 million from Vistara Growth.

The money will go toward such uses as further integrating Camino into Clariti, new tools for public agencies and customer service. Clients of Clariti have used the company’s technology to streamline permitting for residents, which in turn can reduce workloads for city hall and other public agency staff, according to the company.

This most recent funding shows that improving customer experience for governments is becoming ever more attractive to investors, according to Clariti Co-CEO Cyrus Symoom.

In an email interview with Government Technology, Symoom wouldn’t rule out more acquisitions.

“We remain open to opportunities that align with our mission and can enhance our ability to serve our customers effectively,” Symoom said. “Our goal is to continue driving innovation and growth in ways that benefit both our clients and the communities they serve.”

He said that Clariti is on track for at least 40 percent year-over-year growth in its annual recurring revenue this year. If so, it would mark the third consecutive year the company has achieved that.

“With more governments across the U.S. and Canada adopting our technology, we want to play a central role in fostering the sharing of best practices, while continuing to drive exceptional experiences for our customers and the communities they serve,” he said.
Thad Rueter writes about the business of government technology. He covered local and state governments for newspapers in the Chicago area and Florida, as well as e-commerce, digital payments and related topics for various publications. He lives in Wisconsin.