Capital Thinking gets $9 million

Real Estate Weekly, Feb 6, 2002

CapitalThinking announced that it has closed a $9 million new equity round, led by Canaan Partners of Rowayton, Connecticut. Canaan Partners invested $7 million in the round, while previous investors Bessemer Venture Partners, RRE Ventures, Aberdare Ventures, iStar Financial, ABP Investments U.S., Inc. and the New York City Investment Fund contributed a total of $2 million. Canaan's investment comes from its most recently closed $700 million fund, Canaan Equity III L.P.

"CapitalThinking has distinguished itself as the dominant technology provider to the commercial mortgage industry, and is poised for growth," said Steve Green, managing partner at Canaan. "The company's roster of blue-chip clients and success delivering enterprise application software to some of the market's most demanding financial services firms, establishes this team as a long-term player in the market."

"We are exceptionally pleased to be entering the New Year with such a strong balance sheet and continued support from the most pre-eminent names in private equity. We're also extremely proud that so many industry leaders are running their businesses on our bluewire[TM] software," said Heather Shively, chairman and CEO of CapitalThinking. Clients who have already deployed bluewire [TM] include GE Capital Real Estate, JP Morgan Chase and PNC Bank.