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Clear Capital, a Reno-based real estate valuation technology company, has acquired Finland’s digital floor plan creator, CubiCasa, according to a press release sent to Inman.
Clear Capital specializes in data-powered products for most forms of financial analysis in the context of commercial and residential lending, such as appraisals, residential evaluations, broker price opinions and large-scale market reporting, among other industry applications.
CubiCasa, however, is largely an agent-facing mobile product for producing marketable floor plans. Interior home data is becoming increasingly accessible and valuable to the market. Immersive home tours and image metadata (pictures with embedded descriptions), for example, are part of that category and have largely driven its growth.
CubiCasa’s mobile scanner provides real estate photographers, staging professionals, interior designers and contractors a sub-five minute solution for acquiring space dimensions and construction insight.
Clear Capital will use the floor plan to establish consistent measuring standards and improve property data accuracy throughout their product line.
Users need only activate the app and walk through a home to capture a precise floor plan and calculation of gross living area (GLA) that meet American National Standards Institute (ANSI) standards.
Floor plans can be used in a number of scenarios, from API integrations with transaction tools and listing marketing applications to website landing pages and print materials.
“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,” the release stated.
“Jeff Allen, who has served as executive vice president of innovation labs at Clear Capital, has advanced to president at CubiCasa,” according to the release.
Allen said in a statement that CubiCasa’s impressive run-up in the industry caught Clear Capital’s attention and that its technology can help modernize the valuation industry.
“We’re excited by the additional innovations our investment can bring to the product,” he said. “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.”
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.