Champ Titles raises $18 million in Series C financing

Champ Titles CEO Shane Bigelow

Champ Titles, a Cleveland-based provider of digital vehicle title and registration services, has raised an $18 million Series C round, bringing its total fundraising to more than $45 million. 

Point72 Ventures led the round and was joined by existing investors W.R. Berkley Corporation, Eos Venture Partners, Guidewire Software, and Rev1 Ventures, among others.

Through its Digital Title and Registration Suite, Champ helps state governments improve their motor vehicle departments by updating title and registration systems. The company says the $18 million round will allow it to take on “as many new clients as the market will bear.” 

Founded in 2018, Champ provides SaaS-based solutions that require no upfront cost, utilize a pay-as-you-transact model, can be launched quickly, and are continuously improved. 

Champ says its patented SaaS technology eliminates more than 5 million pieces of paper annually on average per state. It reduces processing time from 40-60 days to a matter of hours for car dealers, lenders, insurance carriers, and fleets.

What it Means to Ohio

Champ Titles is among a cohort of Ohio companies that successfully closed fundraising rounds in recent months, despite the more challenging venture environment.

You can check out our Q&A with Champ CEO Shane Bigelow to get to know him, better understand the company’s lofty mission, and hear about his love for Ohio.

What They’re Saying

“We made tremendous progress over this past year—we onboarded new states, including New Jersey, Kentucky and Illinois, expanded our relationship with West Virginia by creating the first National Digital Titling Clearinghouse (NDTC), and grew revenue by more than 300%. We could have continued growing at a measured pace, but we are incredibly excited and grateful to have this round of financing to accelerate our business as we enter our next phase of growth with our great state DMV partners.”

- Champ CEO Shane Bigelow