Table of Contents
- Introduction
- The Genesis of Clariti
- Recent Investments and What They Mean
- Technology Driving Government Operations
- Case Studies: Impact on Local Governments
- Trends in Government Technology (GovTech)
- The Future of Government Permitting and Licensing
- Conclusion
Introduction
Navigating government permitting and licensing can be a labyrinth of paperwork and regulations, often resulting in frustration for both staff and residents. Against this backdrop, Clariti has risen to offer an innovative solution, securing $10 million in growth capital financing from CIBC Innovation Banking. This milestone not only reinforces Clariti's role in modernizing local government operations but also signifies a broader trend towards digital transformation within the public sector.
In this blog post, we will delve into Clariti’s recent developments, the role of technology in government operations, and the broader implications of such innovations. We will also explore the strategic investments from Vistara Growth and integration of permitting technology provider Camino that promise to enhance Clariti’s capabilities. By the end of this article, you will have a comprehensive understanding of how Clariti plans to utilize this funding to revolutionize government permitting and licensing.
The Genesis of Clariti
Founded with the mission to simplify government operations, Clariti has built a robust platform that caters to local governments across North America. The platform streamlines everything from pre-application processes to final approvals, dramatically improving efficiency and satisfaction for both staff and residents.
Initial Goals
Initially, Clariti aimed to address the bottlenecks in permitting and licensing processes, which are often plagued by manual paperwork, long wait times, and a lack of transparency. By using its digital platform, Clariti sought to automate mundane tasks, thereby allowing government officials to focus on more important responsibilities.
Growing Trust and Adoption
With local governments across the U.S. and Canada adopting Clariti’s solutions, the company has seen significant positive feedback. Authorities have reported shorter permit issuance times, reduced need for in-person visits, and higher satisfaction rates among both staff and residents. This widespread adoption underscores the growing trust in digital solutions to improve government operations.
Recent Investments and What They Mean
$10 Million from CIBC Innovation Banking
In June 2023, Clariti secured $10 million from CIBC Innovation Banking, aimed at expanding its capabilities and scaling its operations. This financing will empower Clariti to improve its platform further and integrate new technologies seamlessly.
$18 Million from Vistara Growth
In addition to the $10 million from CIBC, Clariti also received $18 million from Vistara Growth. This investment highlights the confidence investors have in Clariti's strategy and approach to digital transformation in government services.
Strategic Utilization of Funds
The newly acquired funds will serve several purposes:
- Feature Development: Enhancing the platform with new features to cater to varying local government needs.
- Integration of Camino: Following the acquisition of Camino, a permitting technology provider, Clariti aims to integrate Camino’s capabilities to offer a more holistic solution.
- Customer Service Teams: Strengthening customer service teams to provide unparalleled support to existing and new clients.
Technology Driving Government Operations
Platform Capabilities
Clariti’s platform stands out for its comprehensive approach to permitting and licensing, covering every stage from the pre-application phase to review and final approval. By automating repetitive tasks, the platform increases operational efficiency and reduces room for error.
Enhancements with the New Funds
- Advanced Analytics: Utilizing machine learning and AI to offer predictive analytics, helping governments anticipate and prepare for application influxes.
- User-Friendly Interface: continual improvements of the platform interface to ensure it is intuitive and accessible for users of all technical backgrounds.
The Role of Camino
The integration of Camino into Clariti’s ecosystem is set to bring significant enhancements to its platform. Camino specializes in permitting technology, and its integration will offer even more specialized solutions for varied permitting needs.
Case Studies: Impact on Local Governments
Canada
Municipalities across Canada have reported dramatic improvements in the time taken to issue permits, thanks to Clariti’s solutions. For instance, one city noted a reduction in permit issuance time by 30%, freeing up staff to focus on other critical tasks.
United States
In the United States, local governments have similarly benefited from reduced in-person visits and fewer calls, indicating a smoother, more efficient permitting process. One notable success story includes a large U.S. city that saw a 25% increase in resident satisfaction after implementing Clariti’s platform.
Broader Implications
The success of Clariti in these case studies illustrates a broader trend: local governments are increasingly recognizing the value of digital transformation. By investing in modern solutions, they are not only improving their operations but also raising the quality of public service.
Trends in Government Technology (GovTech)
Paymerang and Harris ERP Partnership
The GovTech space is continually evolving, as demonstrated by the recent partnership between Paymerang and Harris ERP. This collaboration aims to offer advanced invoice and payment automation solutions to local governments, integrating them seamlessly into Harris ERP’s CitySuite.
Trimble’s Acquisition of Flashtract
Similarly, in the construction sector, Trimble’s acquisition of Flashtract will add capabilities like construction payment, compliance, and lien waiver to its existing technology ecosystem, streamlining the flow of information between contractors and subcontractors.
Implications for Clariti
These trends indicate a broader industry movement towards automating and digitalizing government operations. For Clariti, this means an even more welcoming environment for their solutions, as governments become more open to adopting new technologies.
The Future of Government Permitting and Licensing
Increased Adoption of AI and Machine Learning
As technologies like AI and machine learning become more advanced, they are likely to be integrated into government systems to provide predictive analytics and enhanced decision-making capabilities.
Cloud-Based Solutions
The future will see an increased reliance on cloud-based solutions, providing scalability and flexibility that on-premises systems cannot. This will allow for real-time updates and faster incorporation of new features.
Focus on User Experience
Future developments will continue to focus on improving user experience, ensuring that the technology is accessible to all stakeholders involved—government staff, residents, and businesses.
Conclusion
Clariti's recent $10 million financing from CIBC Innovation Banking marks a significant step towards modernizing government permitting and licensing processes. By leveraging these funds, along with the $18 million investment from Vistara Growth, Clariti is poised to further enhance its platform, integrate Camino's specialized technologies, and improve customer service. This endeavor promises to not only simplify government operations but also to elevate the quality of public service, making it a win-win for all parties involved.
FAQs
Q: What is Clariti's main function? A: Clariti’s platform is designed to simplify and modernize permitting and licensing processes for local governments.
Q: How will the new funds be used? A: The $10 million from CIBC Innovation Banking and $18 million investment from Vistara Growth will be used to develop new features, integrate Camino, and bolster customer service teams.
Q: What are some other recent trends in GovTech? A: Recent trends include the partnership between Paymerang and Harris ERP for advanced payment solutions and Trimble’s acquisition of Flashtract for construction compliance and payment streamlining.
