Champ Titles, a Cleveland, OH-based leader in bringing advanced title and registration capabilities to DMVs, automotive retailers, and insurance carriers across the U.S., closed a $12.9 million Series B funding.
The round included continued support from four public companies and brought total funding to over $30 million.
The money raised bolsters the company’s position as a leader in the title and registration business.
Founded in 2018 and led by Chief Executive Officer, Shane Bigelow, Champ Titles replaces state DMV title and registration systems with its software while also providing technology that enables automotive retailers and insurance carriers to reduce the amount of time it takes to create, manage, and transfer a vehicle title to just one day. Its SaaS solutions are focused on solving the notoriously frustrating vehicle titling space. The company’s secure, patented, digital titling platform includes three solutions built for state government agencies, insurance carriers, financial institutions, and automotive retailers of all types:
- Digital Title and Registration Suite (DTRS) provides title and registration technology to states all around the U.S. and is a complete vehicle title administration solution to manage titles, registrations, liens, and dealer licensing for governments.
- Digital Title Loss allows any insurance carrier to quickly and easily acquire and dispose of a policyholder’s vehicle title in instances of total loss by digitizing the process end-to-end.
- Dealer Title is a 50-state solution to enable the purchase and sale of vehicles nationally by retailers of all types (physical, online, and hybrid) who are using the service to improve their vehicle acquisition and disposition processes.