Champ Titles Raises $12.9M as It Digitizes State DMV Offices

Champ Titles, an Ohio-based company seeking to boost the digital capabilities of state DMV and automotive registration systems, says it has raised $12.9 million in a Series B funding round.

The SaaS company has raised more than $30 million since its founding in 2018.

According to a statement from the company, it “replaces state DMV title and registration systems with its intuitive 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.”

The company’s Digital Title and Registration Suite product offers title and registration technology to U.S. states and can handle such tasks as liens and dealer licensing for governments. The Digital Title Loss product helps insurers digitally acquire and dispose of a policyholder’s vehicle when vehicles are declared total losses. Dealer Title, meanwhile, is used by retailers for the sale and purchase of vehicles.

The funding comes amid increasing efforts to bring more digital services to DMVs, among the most familiar and often most frustrating points of contact between residents and state government.

“We are thrilled that the industry has spoken: Our recent large contracts and funding round are proof that the days of old, big, on-prem deployments are over for title and registration solutions,” said Champ Titles CEO Shane Bigelow in the statement. “There is a real call for low-cost, high-efficiency, quickly enabled solutions to speed title and registration transactions anywhere in the world.”