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 October 30 – November 5

Eric F. Risley
November 5, 2023

You can’t build everything.


That may be a modest overstatement, however, it’s a truism that all software-based companies, protocols, open-source projects and individuals that are working on their own start with an idea that becomes software code which morphs into a working product or feature.  That’s hard work representing talented and expensive human capital time. Now the even harder work.  Attracting users, tending to users’ needs, evolving, improving and extending the product.  Repeat, repeat, repeat, …  That’s what builds successful businesses and widely used protocols and open-source products.


Over time “what’s next?” is a constant question that, when answered, converts to “how”.  Most companies use a pretty simple decision-making framework – build, partner or buy.  Most often that decision-making framework skews something like this:


  • Build if it’s a product feature or natural product extension


  • Partner if the capability i) complements but is not critical or ii) complements and a partner can be trusted to fulfill the need for a while or perhaps indefinitely or iii) complements and the partner brings significant benefits like customer relationships or brand value.


  • Buy if the capability is very important, others have already built it and i) it would be difficult to build in a reasonable time or ii) it comes with, talent, customers and a business that are a natural fit to achieving the “what’s next?”.


Of course, each path has costs which often limits what is practical.  This is a bit like mom and apple pie, most acknowledge and accept this as a reasonable framework.


However, often we see a different mindset with open-source projects.  We’d posit that is due to software developers both creating and managing these efforts.  As is natural, software developers build and what they build is important and protected by them.  Introducing a new group to their efforts creates tension, potential conflict and certainly a period of “getting to know each other” compromise.  Protocols are often fundamentally open source projects.  In our view, that reality has inhibited protocols from actively participating in the buy option highlighted above.  This is beginning to change but not without the predicted tension as was well highlighted by the Cardano community bickering this week following the announcement of the acquisition of Nami Wallet by Input | Output.  


Make no mistake, software developers rule and are the lifeblood of crypto.  Over time we hope and expect those that are building protocols will become a bit more pragmatic with the expected result of more mergers and acquisitions within these ecosystems.