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

Elliot Chun
April 26, 2024

Is BTC Mining good for the environment?


Today, this is a loaded question with fierce arguments on both sides.


On the not-good side, naysayers point to the total amount of energy used and the use of carbon-based sources of power.


On the good side, proponents focus on the BTC Mining industry’s ability to adapt and react to real-time energy usage and its use of non-carbon energy sources.


Not surprisingly, I am 100% on the BTC Mining is long term good for the environment side, but we are early in our journey and there will almost always be new ways that the industry can improve. 


PayPal agrees as they announced that they will be further incentivizing BTC Miners who use low-carbon energy sources. PayPal partner EnergyWeb will implement a clean energy validation platform that confirms a Miner’s low-carbon operations. These “Green Miners” will be associated with a public key and certain on-chain transactions will be preferentially routed to these green miners, one can earn additional BTC rewards.


The key takeaway is that incentives drive behavior and PayPal is helping the BTC Mining industry by improving its good-for-the-environment narrative by offering additional BTC rewards within the operating framework of the BTC protocol.


Block announced their own new BTC mining system this week, which includes a three-nanometer BTC mining chip, a full tapeout design with a leading semiconductor foundry, and the development of a full bitcoin mining system. There is a lot behind these statements, especially as Block is solving for both the hardware and the software components that make up this industry, and there will be long term environmental benefits as a result. Surely Block’s comprehensive mining system is an aggressive endeavor that has yet to be achieved by any single market participant, but if there is a company with the BTC passion, resources, talent, and resolve to make their own mining system a reality, it’s the team at Block.


The fact that BTC Mining continues to work in a decentralized environment after 15 years, four Havlings and zero downtime, errors, or hacks is a modern-day miracle on its own. PayPal, Block and many others in the industry are constantly striving to improve the most sophisticated computer network and its innovative incentivization network. These types of market participants are the reason that almost everyone will eventually believe that BTC Mining is good for the environment.


Finally, Bakkt announced a 1-for-25 Reverse Stock Split, in order to regain compliance with the price criteria of NYSE’s Listing Rule.