Champ Titles is thrilled to announce the closing of $18 million in Series C financing, marking a pivotal moment in our journey towards digital transformation. This significant investment underscores our commitment to revolutionizing vehicle titling and solidifies our position as a frontrunner in digital title, registration, and lien systems in the United States.
Led by Point72 Ventures, and supported by esteemed investors such as W.R. Berkley Corporation, Eos Venture Partners, Guidewire Software and Rev1 Ventures, this funding round represents more than just monetary support—it's a validation of our vision and potential.
What's propelling this investment forward? The promise of our Digital Title and Registration Suite (DTRS), a platform that modernizes and streamlines title management processing for motor vehicle departments nationwide. With this infusion of funding, we are poised for rapid growth and ready to take our innovative solutions to even greater heights.
Our CEO, Shane Bigelow, shared his thoughts on the company's trajectory, "We could have continued growing at a measured pace, but we are incredibly excited to have this round of financing to accelerate our business as we enter our next phase of growth with our great state DMV partners."
Adam Carson, Partner at Point72 Ventures, echoes this sentiment, recognizing the transformative potential of Champ Titles' platform. "The current title management process is largely paper-based, error-prone, and requires significant time and effort... [Champ Titles] offers a comprehensive and simplified solution for state DMVs, addressing a longstanding pain point," Carson explained.
Our success story is a testament to the dedication and collaboration of our team. Since our inception in 2018, we've worked tirelessly to build partnerships with state DMVs and deliver innovative solutions that redefine industry standards.
Recent milestones, such as the establishment of the country’s first National Digital Titling Clearinghouse (NDTC), underscore our commitment to driving efficiency and enhancing the customer experience. "Our innovative approach to technology and government partnerships are resonating," Bigelow affirmed, highlighting our pioneering spirit.
