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 May 13 – May 19

Glenn Gottlieb
May 23, 2024

36 Crypto Private Financings Raised ~$334M 

Rolling 3-Month-Average: $266M

Rolling 52-Week Average: $195M


Venture capital funding for crypto-related companies continues to show upward momentum. A couple of weeks ago, undisclosed funding amounts distorted the picture downward, and this past week saw 36 deals that brought in ~$334M led by South Korean Metaverse company Galaxy, with $73M at a post money valuation of $731M.


A strong interest here is non-speculative use cases for blockchain technology and last week saw a couple of very interesting financings within that group:


Polymarket raised $45M Series B


Prediction markets are surprisingly accurate, though it’s not a perfect science. Reliability can vary by topic. However, prediction markets offer a valuable tool for forecasting, often exceeding the accuracy of polls, as people trading in prediction markets have a financial stake in being right. This motivates them to research and place bets reflecting their true beliefs, potentially leading to a more accurate collective prediction than simple polls. And, they’re profitable!


Polymarket is a decentralized prediction market platform utilizing the Ethereum blockchain and smart contracts to enable users to speculate on the outcomes of real-world events. Polymarket announced a $45M Series B led by Founders Fund, and including Vitalik Buterin, Dragonfly, and ParaFi. 


This funding reinforces faith in prediction markets as a business model despite Polymarket’s regulatory issues within the United States. In early January 2022, the Commodity Futures Trading Commission (CFTC) reached a settlement with Polymarket for $1.4 million. The CFTC alleged that Polymarket’s event-based binary options contracts functioned as unregistered swaps, falling under the Commodity Exchange Act (CEA), causing Polymarket to shut down its US operations. 


In order to investigate the possibility of operating in the United States, Polymarket hired Richard Jaycobs, a futures industry executive. 


Humanity Protocol raises $30M seed round and becomes a unicorn


Humanity Protocol represents an innovative approach to digital identity verification in the Web3 space. Humanity Protocol focuses on creating a decentralized verification system for human identity using blockchain technology and a verification process that involves scanning their palm veins. The verification data is stored on a decentralized network, eliminating reliance on a single entity and enhancing security. Additionally, Humanity Protocol leverages zero-knowledge proofs, a cryptographic technique that allows verification without revealing the actual palm scan data. This protects user privacy.


Human Protocol will compete with Worldcoin, but they differ in their approach, particularly regarding privacy and verification methods. Human Protocol utilizes palm vein scanning, a technology proponents claim is more secure and user-friendly than iris scanning. Worldcoin Initially used iris scanning, but switched due to privacy concerns. Their current verification method is not believed to be publicly revealed yet (as of May 22, 2024).


The $30M round at a $1B valuation, was led by Kingsway Capital  and included Animoca Brands,, and Hashed, among others. 


CONSENSUS: Architect Partners will have a full team in Austin next week. Feel free to reach out if you would like to connect.