Clear Capital, a national real estate valuation technology company, today announced it has completed the acquisition of CubiCasa, a Finland-based proptech startup. Through this acquisition, Clear Capital will empower CubiCasa to expand its revolutionary mobile technology that automates floor plan sketch creation and digitizes property data collection. CubiCasa will continue to operate with autonomy and service a wide variety of customers and verticals.
“As a key part of Clear Capital’s mission to modernize the appraisal process, we needed to find a way to make floor plan sketches more accurate and easier to create,” said Duane Andrews, Clear Capital CEO. “We evaluated every option available, and CubiCasa’s technology far exceeded anything else in the marketplace. Then we met their leadership team, and were amazed at our people-first cultural alignment. This is just the beginning of a very fun journey together.”
“The CubiCasa team is incredibly excited to be joining forces with Clear Capital, which has been an excellent partner to us for more than a year now,” said Harri Pesola, founder and executive director of CubiCasa. “Clear Capital is the ideal partner to help us grow and revolutionize the way property data is collected now and in the future.
CubiCasa’s mobile capture technology can be used without prior training by anyone with a smartphone. From a simple walk-through of a home, the technology produces a highly-precise floor plan sketch and calculates gross living area (GLA) aligned with American National Standards Institute (ANSI) standards. Square footage is the second-highest driver of a home’s value (the first being location), and CubiCasa’s technology helps minimize inconsistencies and variations in the property data collection and inspection process. Companies can easily embed CubiCasa’s scanning technology into their existing mobile applications through APIs and mobile SDKs.
“We’re thrilled with the CubiCasa product, but also with their tremendous team,” said Jeff Allen, EVP of innovation labs at Clear Capital and president at CubiCasa. “What they’ve already built can serve as an industry utility to help modernize the valuation industry, and we’re excited by the additional innovations our investment can bring to the product. We think there’s major change coming to our industry in years ahead, and we want to help lead it, not just react to it.”
The acquisition of CubiCasa is part of Clear Capital’s ongoing efforts to bring more consistency and accuracy to home appraisals through innovative technology, improved processes, and policy modernization.
About Clear Capital
Clear Capital is a national real estate valuation technology company with a simple purpose: build confidence in real estate decisions to strengthen communities and improve lives. Our goal is to provide customers with a complete understanding of every U.S. property through our field valuation services and analytics tools, and improve their workflows with our platform technologies. Our commitment to excellence — wherever it leads, whatever it takes® — is embodied by more than 1,300 team members across four brands (Clear Capital, Clario, CubiCasa, and REO Network) and has remained steadfast since our first order in 2001.
