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 M&A Snapshot

Week of June 10 – June 16

Eric F. Risley
June 16, 2024

Gaming has long been a highly promising use case to allow crypto to break through into everyday use,  It’s a seemingly natural fit with gameplay dynamics which naturally lend themselves to robust and proven in-game economies.  The problem is the value built within each game is stuck within the game and cannot be used in other games or in the physical world.  Crypto and blockchain are naturally suited to allow in-game value to be “freed” and used by players elsewhere.


However, it largely remains promise, in spite of thousands of efforts to build, distribute and build and maintain engaged users.  As we speak today, DappRadar places Axle Infinity, Midas Miner and Chain Colosseum Phoenix as the top three games as measured by the value of assets within the game, however combined they have a paltry  250,000 unique active users over the past month.  For comparison ROBLOX, Minecraft and Fortnite currently have 196M, 166M and 126M monthly active users, respectively.  Games are a $282B business annually with 1.7B players, a market well worth striving for.


The coming twelve months is an important test for blockchain games, with the leading Web3 game development platform, Immutable, reporting that over 125 new games, many very well funded, will be launched in 2024.


While remaining early, blockchain game M&A is beginning to show itself, with two transactions announced this week, one by Uniswap Labs.  Year to date, we’ve seen a total of 15 transactions in this segment, however, M&A generally follows market legitimacy, which has yet to be proven.


Lastly, the crypto M&A has picked up.  Announced consideration has virtually doubled in just the past few weeks compared to the past two years!