Hilco Streambank announced it is seeking indications of interest in business opportunities with enterprise financial modeling SaaS platform ClearFactr. Hilco Streambank invites interested parties to view more information here, or to contact its professionals directly at project+finmodel@hilcoglobal.com
ClearFactr is a platform purpose-built to create, share, and scale financial modeling solutions on an enterprise level. The platform enables developers to leverage the combination of a web-based, familiar spreadsheet interface and calculation engine, and a simple but powerful API. The combined capabilities address pervasive obstacles faced by developers and spreadsheet users including burdensome data management, version control, complicated coding, audit visibility, and more. Most notably, ClearFactr’s patented capabilities allow users to query and model, in real time, massive datasets maintained in one or more external data warehouses, solving the age-old problems stemming from attempting to carry this data in the spreadsheet itself.
The web component offers unique capabilities whereby developers and their audiences can more rapidly understand and collaborate around the business logic in the models, leverage richly visualized sensitivity and scenario analyses, version management down to the cell level, and more, all with little to zero coding. The API notably contains the ability to easily use models as headless calculators, enabling developers to incorporate their ecosystem of ClearFactr models into their larger solutions in a way that users can see, and via fine-grained entitlements, maintain aspects of the overall business logic. The overall platform represents an architectural paradigm shift that facilitates bringing new and powerful custom solutions in record time.
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ClearFactr was acquired by Goldman Sachs in 2018 and was successfully implemented and utilized internally through the present. Faced with the opportunity to spin out ClearFactr and bring the platform to a wider market, ClearFactr founder and CEO and longtime Wall Street veteran Dean Zarras stated, “While grateful for the opportunities provided via Goldman Sachs, including having worked with some truly incredible people, I’m also super excited to announce that I’m once again back at the helm as the sole owner of ClearFactr, and have embarked on a path to maximize its full potential.” Zarras continued, “ClearFactr offers an exceedingly powerful suite of visualizations and analytics, all driven in real time by a user-friendly API and external data sources. That latter capability, in particular, can and should usher in a paradigm shift in the way spreadsheet-like applications are architected, deployed, and managed, to the massive benefit of all parties and to the data itself, both consumed and produced. All of this can be done with astonishing time to market.”
Hilco Streambank is excited to work with ClearFactr and Zarras, who commented, “Bringing this full power to market will require partners, and the first one I’ve engaged with is Hilco Streambank, who is leading an effort to find more.” Hilco Streambank CEO Gabe Fried said, “ClearFactr’s powerful, user-friendly software is optimal for investment bankers, auditors, controllers, accountants, and anyone who conducts financial modeling to make those operations more effective and efficient. External, real-time database querying means users can work with larger datasets than ever before, an increasingly important capability in today’s Information Age.” Speaking to the business opportunities available, Fried noted, “ClearFactr can be a secret weapon for a firm that wants to use the software exclusively in-house to go to market more quickly and with superior models, or it can be broadly commercialized under an enterprise solutions model. Custom software solutions providers, financial services and analytics firms, and venture capitalists in enterprise software should all be paying attention to this.” Fried continued, “ClearFactr’s founder brings to the table decades of experience developing financial services platforms on Wall Street and is sure to be an incredible value add on a go-forward basis. He is highly motivated to ensure the ongoing success and growth of the technology and the company and will be an invaluable asset.”
The ClearFactr platform is enabled by proprietary software and is protected by issued U.S. utility patents covering key features and functionalities centered around financial modeling and scenario analysis, including, importantly, real-time integration with and analysis of external data sources.
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