On September 22, 2022, Cleveland Champ Titles, a national leader in providing DMVs, auto dealers, and insurance companies with cutting-edge title and registration capabilities, closed a USD 12.9 million Series B investment. The oversubscribed round puts Champ Titles’ total funding to over USD 30 million with sustained support from four publicly traded corporations.
Founded in 2018, Champ Titles provides technology that enables auto dealers and insurance providers to issue, administer, and transfer a vehicle title in just one day. Champ Titles also replaces state DMV title and registration systems with its user-friendly software. The funds raised enhance the company’s standing as a market pioneer in the title and registration industry.
Shane Bigelow, chief executive officer of Champ Titles:
“We are delighted that the industry has spoken: our recent significant contracts and fundraising round are confirmation that the days of traditional, massive, on-premise deployments for title and registration solutions are past. There is a genuine need for quick, low-cost solutions that are also very effective at speeding up title and registration transactions everywhere in the world.
EOS Ventures’ founding partner Jonathan Kalman remarked:
“We are thrilled to make another investment in Champ. They clearly have the initiative in digitizing the title and registration space, and their momentum is solid. In the years to come, we’re excited to witness how they transform the insurance sector and numerous other industries.”
Michael Chen, Vice President, Head of Corporate Development and Ventures at Guidewire Software:
“We love to see more digital innovation in this area of claims where we can support Champ Titles. As the top platform P&C insurers trust to innovate, interact, and expand effectively.”
The SaaS solutions from Champ Titles are entirely dedicated to resolving the infamously difficult automobile titling area. Three resolutions were created for state government organizations, insurance companies, banking institutions, and all types of vehicle merchants using the company’s safe, patented, digital titling platform:
The Digital Title and Registration Suite (DTRS) is a comprehensive automobile title administration solution that helps governments handle titles, registrations, liens, and dealer licenses. It offers title and registration technology to states all around the United States.
By completely automating the procedure, Digital Title Loss enables any insurance company to swiftly and efficiently acquire and dispose of a policyholder’s vehicle title in the event of a total loss.
Dealer Title is a 50-state solution that enables merchants of all stripes (physical, online, and hybrid) to buy and sell cars across the country and use the service to streamline their operations for buying and selling cars.
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