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 March 25 – March 31

Eric F. Risley
March 31, 2024

Is M&A of blockchains a thing?


Yes.  Over the past several years at least 9 significant “joining of community efforts” have been announced including Fei Protocol and Rari Capital, as well as Hermez and Polygon.  This week this group was joined by a three way combination (“sort of”) SingularityNET, and Ocean Protocol.  In all of these combinations, the associated publicly traded tokens were or are proposed to be merged into a single token via a token swap.  Each featured notional value exchanged in $billions, this week $7.5B, catching deserved headlines.  By most definitions, this is M&A, as defined.


So why do we continually be asked if blockchain protocol M&A is a thing?  As M&A practitioners, protocol M&A raises a myriad of practical questions and some challenges.  Just a few examples include determining pre and post-transaction governance, legal obligations of each party, disclosure requirements, how to incentivize or even force participation by token holders, how to value the token consideration, tax and accounting treatment for all participating parties, governing law, who has the right to make decisions on behalf of token holders and what standards of care do these individuals assume.


Much like in the ICO era, some will “just do it” with presumed good faith and address ramifications and incorrect assumptions through the process and perhaps later when regulators or plaintiff lawyers knock on the door.  


We applaud these pioneers and are enthusiastic about the potential for Blockchain protocol M&A.  However, many critically important topics must be addressed in a careful and prudent fashion.  There are many rules of the road developed over decades.  These have been formed by the triad of regulation, legal requirement and practitioner processes and techniques that result in successful outcomes judged by both the “deal” and perhaps more importantly “after the deal”.  We spend our days at the intersection of the entrepreneur mindset of “break things and fix it later” and doing it right the first time.  It’s a delicate balance.