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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. 

Funding

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. 

Competition

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.

METHODOLOGY

The Architect Method

With hands-on senior leadership, our approach delivers premium value in emerging tech-driven markets.

Preparation

KNOWING THE CONTOURS OF THE TERRAIN AND SPEAKING THE LANGUAGE.

We live and breathe the front lines of tech-driven disruption. We are in constant dialog with key players, publish data-driven analysis, and identify patterns and opportunities as they develop. With decades of transaction successes, the Architect Team moves at the speed of emerging markets, constantly analyzing and mapping new territories as they evolve.

 

  • Crypto focus
  • Deep acquirer & investor relationships
  • Unique industry insights
  • Expertise honed through multiple market cycles

Calibration

CRAFTING THE NARRATIVE TO CLEARLY COMMUNICATE STRATEGIC FIT.

Every successful acquisition or financing is built on a great story. We’ve honed classic storytelling models to calibrate company narratives to fit with specific acquirer strategic needs. In constant contact with the major players, we understand how they view the market. At the core, we artfully match buyer needs with solutions.

 

  • Crystal clear value propositions
  • Articulating future value
  • Speaking in plain English
  • Messaging tailored to each specific target

Execution

RELENTLESS DRIVE.

Transaction execution is an art that requires both experience and crisp execution. We’ve seen it all, so we know in advance what to expect and how to guide our clients through complex situations. The other half of the formula is plain hard work – we are highly detail-oriented and relentless in driving to premium outcomes.

 

  • Hands-on engagement from senior partners
  • Targeting the right decision makers
  • Full transparency with clients on all conversations
  • Meticulous process management

Emergent sectors require logical

frameworks to bring order to the chaos.

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