Champ Titles Raised $18M from Point72 Ventures
Champ Titles Raised $18M from Point72 Ventures

Architect Partners was the exclusive Financial Advisor to Champ Titles.

Transaction Overview

On March 27, 2024, Cleveland-based digital title and registration platform Champ Titles announced an $18 million Series C equity round led by Point72 Ventures with participation by existing investors.

Company Description

Champ Titles provides a digital title and registration suite to streamline the vehicle titling process. Their platform enables the creation of legal, digital titles for easy transfer and verification, serving insurance carriers, lenders, state governments, auto dealers, and owners. Stakeholders, including state motor vehicle departments, lenders, and vehicle owners, benefit from a unified and transparent system, where all information is readily accessible and transaction times are markedly reduced. The governance of the digital platform is established through clear guidelines, ensuring all parties adhere to the updated processes and regulations.

Champ Titles’ success is measured by the elimination of more than 5 million pieces of paper annually on average per state; a reduction in processing time from 40-60 days to a matter of hours; increased productivity of DMV title clerks processing more than five times as many titles per day; and the improved experience for consumers in each state that has adopted Champ Titles’ solutions. Over the last twelve months, the company has successfully onboarded new states including New Jersey, Kentucky, and Illinois, and expanded its relationship with West Virginia by creating the first National Digital Titling Clearinghouse (NDTC). Through these efforts, the company has grown rapidly with revenue increasing by more than 300% year over year. 

Founded in 2018 by CEO, Shane Bigelow, the company now has 63 employees and is headquartered in Cleveland, Ohio. 


In this Series C funding round, Champ Titles raised $18M from Point72 Ventures and existing investors including W.R. Berkley Corporation, Eos Venture Partners, Guidewire Software, and Rev1 Ventures, bringing the total amount raised since inception to $45M. 

In the prior Series B round, Champ Titles raised $13M from Guidewire Software, Eos Venture Partners, and Ally Ventures.

Before that, Champ Titles raised $13.5M in 2021 in a Series A. Emergents, now Architect Partners, served as the exclusive Financial Advisor for that financing. 


Champ Titles’ biggest competitors are existing state DMVs deciding to be a software company and developing solutions on their own or via large systems developers.  However, they also compete with other digital title networks such as Cario and Oxhead Alpha/Tezos. In addition, technology-enabled DMV solutions such as Fast Enterprises are seen as competitive but don’t offer the same efficacy.


Architect Partners’ Perspective

Champ Titles’ SaaS-based solutions present a compelling example of blockchain-enabled infrastructure solving real-world problems.  By focusing on the needs and pain points of legacy auto title, registration, and lien processing, Champ has leveraged the power of blockchain to transform critical government services.  The result is exponentially accelerated processing time for DMV constituents, with improved accuracy and reduced cost.  Yet Champ’s solutions capture many key benefits of on-chain data processing – which include trust, transparency, data integrity, security, and efficiency – without users even being aware of their blockchain foundations.  

While much attention is focused on recent resilience in crypto asset prices, we believe 2024 will see significant growth in non-speculative enterprise applications for distributed ledger technology.  Champ’s successful raise demonstrates investor interest in practical and scalable solutions to real-world problems.

Crypto Public Companies Snapshot

Crypto Public Companies Snapshot

Glenn Gottlieb
October 27, 2023

News on Macro Economic Data

There was mixed news on the economic front this past week: GDP for Q3 came in at a robust 4.9%, however:


2.7 percentage points were associated with consumer spending. How long can this be maintained is a key question, as consumer debt is rising fast, and credit card and auto loan delinquencies are increasing


1.3 percentage points were attributed to Inventory buildup for Q4


While durable goods orders were up, business equipment was negative, and investment in IP was weaker than during the pandemic


PCE, the Fed’s favorite metric for inflation, remained stubbornly high, and rose 0.4% in Sept (3.4% annualized)


Important to note that PCE does not include key consumer needs of food and energy. Food and energy were up 6.6% YoY


Consumer spending was up 0.7% in Sept, but personal income gains only increased 0.3%


Given the mixed economic news, global instability, and 10-year T-Bills yielding 4.8 +/-%, the markets have remained volatile. Given the current environment, most economists believe the Fed will leave rates as is during their upcoming meeting.


Crypto Public Company Activity


The surge in cryptocurrency values earlier in the week was fueled by growing excitement over the possibility of crypto spot ETFs available on traditional exchanges without having to deal with managing an account/wallet on crypto exchanges that collectively have a less than stellar reputation.


In a move that foreshadows an SEC approval, Blackrock’s spot bitcoin ETF appeared on the Depository Trust and Clearing Corp.’s eligibility list. DTCC is an American operating clearing house for stocks and ETFs.


Bitcoin gained 18% on Tuesday, trading above $35,000 for the first time since May 2022 at the height of the surge. Publicly traded crypto exchanges, miners, and other associated companies all had a very good day. However, these assets lost value over the course of the week, much like the broader market, as global instability and broad economic concerns drove investment decisions.


Does this major short-term move in crypto assets provide evidence that the crypto winter is thawing? It’s tough to predict given global turmoil, both geo-political and financial, as well as the ongoing regulatory environment. But, it’s a welcome reprieve.


On another positive note, the market capitalization of DeFi assets is up 15% to a three-month high of $49.4B, and for the first time since August, TVL (Total Value Locked) has surpassed $40B.