Champ Titles, a Cleveland, OH-based provider of digital vehicle title, registration, and lien systems of record in the United States, raised $18M in Series C funding.
The round was led by Point72 Ventures, with participation from W.R. Berkley Corporation, Eos Venture Partners, Guidewire Software, and Rev1 Ventures, among others.
The company intends to use the funds to accelerate its ongoing growth.
Led by CEO Shane Bigelow, Champ Titles is a provider of digital vehicle title and registration services. Its patented SaaS (Software as a Service) technology is built for government to solve the problems faced by its constituents, which include vehicle retailers, vehicle wholesalers, insurance carriers, fleet operators, lenders, all the service providers that serve each of these industry verticals, and consumers. Its solutions include the digital title and registration suite and the national digital titling clearinghouse.
Commenting on the news, Shane Bigelow said: “We made tremendous progress over this past year—we onboarded new states, including New Jersey, Kentucky and Illinois, expanded our relationship with West Virginia by creating the first National Digital Titling Clearinghouse (NDTC), and grew revenue by more than 300%. We could have continued growing at a measured pace, but we are incredibly excited and grateful to have this round of financing to accelerate our business as we enter our next phase of growth with our great state DMV partners.”
FinSMEs
28/03/2024