The round, the largest so far for the 8-year-old company, was led by W. R. Berkley Corporation, Point72 Ventures and ORIX Corporation USA, alongside other investors.
CHAMP’s total funding stands at more than $104 million, according to Crunchbase. In 2024, the company raised $18 million.
According to a statement, the fresh capital will go toward expansion as CHAMP seeks to sell more of its digital title, registration, driver’s licensing and related services. The company says more than 35 million people in the U.S. have access to its technology via state contracts.
CHAMP is part of a recent $54 million push in Louisiana to bring better technology and services to that state’s motor vehicle administration, an effort designed to bring “a full end-to-end digital DMV experience to millions of residents,” according to the statement.
CHAMP also has worked with government technology heavyweight Tyler Technologies in electronic titles, underscoring the scope and business appeal of such tools.
“Demand for CHAMP has never been higher. We’re expanding at a remarkable pace and expect to grow materially again next year,” said Shane Bigelow, CHAMP's CEO, in the statement. “The interest in what we are building has been extraordinary; this round was significantly oversubscribed, and we believe deeply in the scale of the opportunity ahead.”
CHAMP says its technology can reduce processing times for automotive documents from days to hours, among other benefits.
