W. R. Berkley backs Champ Titles
Champ Titles closed an $8.5 million Series A investment. The round was led by EOS Venture Partners and W. R. Berkley Corporation , and it brings the company’s combined funding to over $17.5 million.
Founded in 2018, Champ Titles can reduce the amount of time it takes to create, manage, or transfer a vehicle title to just one day. The money raised will be used to accelerate the distribution of its breakthrough technology across multiple vehicle title ecosystem verticals and a broader geographic footprint.
“What we are doing here saves not only weeks in processing time but money for everyone . The world is rapidly digitizing, and Champ’s end-to-end vehicle titling solutions are being adopted at a high rate because we significantly reduce the time and effort required to create, manage or transfer the vehicle title. This funding will allow us to roll out Champ Titles faster to more users across the entire U.S. Coming on the heels of the recent announcement of our strategic partnership with Copart, Inc., we are honored to receive investments from such accomplished institutional and strategic investors – W. R. Berkley Corporation, Ally Ventures, Guidewire Software, Inc., and State Auto Insurance as well as great venture firms in EOS Venture Partners, Westerly Ventures, Sadie Ventures, A100x Ventures, and XBTO Humla Ventures. Their support of our efforts means a great deal to our team, our customers, and to our future.” – Champ Titles Chief Executive Officer, Shane Bigelow.
Champ Titles solutions are designed for insurance carriers, automotive retailers, lenders, state governments, and others. Products currently in production include Digital Total Loss, which allows insurance carriers to more quickly acquire and dispose of vehicles in instances of total loss by digitizing the process from owner engagement to title application submission, reducing cycle times significantly, and DMV SaaS, which gives state agencies the ability to modernize their title and registration systems, providing significant benefits to all users of these upgraded systems.
“Transferring title after a total loss is a slow process that involves many parties. Digitization allows the whole chain of participants in a title transfer to cooperate in a secure and efficient manner, and drive better outcomes for everyone involved. Having earned the support of such a strong group of strategic partners – many of which participate in that same chain – we believe Champ’s team and technology are best positioned to execute on this very significant opportunity.” – Mike Nannizzi, a Director at W. R. Berkley Corporation.