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.


Week of January 8 – January 15

J. Todd White
January 19, 2024

28 Crypto Private Financings Raised ~$174M 

Rolling 3-Month-Average: $189M

Rolling 52-Week Average: $183M


Private financings maintained their muted trend over the last few weeks, with $174M raised, slightly below both the near and medium-term averages, which have hovered between $180M and $190M. Earlier stage rounds for DApps in media, gaming and trading saw the most activity, with the sole medium stage (Series B) going to the trade document management platform, WaveBL.


Documentation is essential across almost every business function, from customer relations to compliance and reporting and everything in between. Efficient management of business documents has presented a consistent and evolving challenge, with storage rooms full of filing cabinets first scanned into servers, and eventually migrated onto cloud-based collaboration, management and storage solutions that, at least in theory, never require an actual physical document. But the push to paperless systems has created new challenges including version control, verification, storage, and the security and integrity of digital records.


Blockchain technology seems an intuitive solution, enabling instantaneous and immutable verification of the location and history of all records throughout the business cycle.  And numerous initiatives have attempted to realize this potential.   WaveBL was launched in 2015 to focus on the electronic transfer of trade documents and now claims to have issued almost 500,000 electronic bills of lading in 136 countries. Their current investment of $11M from new strategic investors tops off $26M announced in June to close their Series B round. Proceeds will be used to expand offerings and increase sales, marketing and R&D resources.


As highlighted in our 2023 report, we view document management as a key area to watch for blockchain enterprise solutions.  WaveBL’s successful raise and apparent market traction also supports our thesis that established players offering tangible real-world solutions will receive continued support as the crypto sector matures beyond the speculation of its formative years into practical, real-world solutions.