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.

Public Companies

Crypto Public Companies Snapshot

Eric F. Risley
May 19, 2023

It’s time to change.  Bitcoin Miners should be referred to as Bitcoin Network Operators.


Today the Bitcoin network is comprised of 16,866 reachable nodes, has been in existence for fourteen years, has validated and stored over 839 billion transactions, and has achieved an overall uptime of 99.9882659% since inception and a perfect 100% since 2013.  Impressive indeed.  


The issuance of Bitcoin, built into the protocol code as an economic reward, has created the necessary economic incentive for node operators to build today’s network.  Architect Partners estimates that roughly $31 billion has been invested just in the necessary data centers and specialized computers.  Additionally, the electricity expenditure today totals roughly $6 billion per year.  


This is an extraordinary phenomenon where an incentive, created by an idea, and a collective buy-in to that idea, has translated into a physical manifestation costing $10s of billions.  However, this Bitcoin incentive (commonly analogized as a mining reward) is declining and will eventually stop.


Transaction fees are also explicitly featured in the Bitcoin Whitepaper. “Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and (Bitcoin can) be completely inflation free”.


Historically, transaction fees have been a very small proportion of the total compensation received by operators of nodes.  This has begun to change, particularly during periods of high demand for transaction validation. In fact, last week, transaction fees represented 36% of total rewards (in Q1 2023, the average was 7.9%) to node operators.


Our thesis is that transaction fees will become the dominant component of node operator compensation as the Bitcoin network matures. Why continue to call those that run this network “miners” when mining rewards are gradually declining and will eventually be eliminated?