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
January 26, 2024

News on Macro Economic Data


Economic news this week was positive with a Q4 read on GDP at 3.3%, and the Fed’s preferred inflation rate PCE was down to 2.9%. As has been the case, the underlying details remain mixed, and the Federal Reserve’s Summary of Economic Data report suggested that the 2% inflation target will not be reached until the end of 2026.     


A further look into the numbers shows that the largest factor in GDP growth has been government spending. Over the last couple of years, the government spent about $11T for about $1.5T in real growth. The effects of massive government overspending may lead to a dilemma for the Fed over the coming months. Almost $9T in government debt has to be repackaged this year, and with projected US government interest payments exceeding $1T for the first time, the Fed may have to decide between inflation and order in the Treasury markets. There have been challenges in the Treasury markets over the past couple of years, and while Treasure markets are not part of the Fed mandate, it is a pollical year.


Crypto Public Company Activity


ETHEREUM ETF NEWS: Now that Bitcoin ETFs have been approved, attention is turning to an Ethereum ETF. The SEC pushed back its decision on Blackrock’s proposed ETF with no explanation aside from needing more time.  The SEC must make a final decision by August 7th but is expected to decide in May as a decision on VanEck and Ark 21 Shares applications must come by late May.  Final decision due dates also include Grayscale (June), Invesco Galaxy (July) and Fidelity (August).


SEC NEWS:  According to research compiled by Milk Road, the SEC significantly increased enforcement in the Crypto sector by 53% over 2022 with 46 enforcement actions. Key statistics published in Milk Road include:


  • $281M in fines
  • 82% involved fraud charges
  • 37% targeted unregistered ICO securities


SEC chair Gary Gensler has been a vocal advocate of greater scrutiny of Crypto. The SEC’s actions reinforce his views and can be attributed to multiple key factors:


  • Focus on overall investor protection
  • Concerns about unregistered securities
  • Scrutiny of Crypto trading platforms with a  focus on lack of registration, manipulative practices, and inadequate investor protection


Given the current view of the SEC and Mr. Gensler, SEC enforcement activity is not expected to decline in the near future.