CHAMPtitles
CHAMPtitles builds technology to modernize vehicle title and registration processes for government and various industries, offering flexible, cloud-based solutions.
Services
CHAMPtitles builds technology solutions designed to address issues with title and registration for government entities. Offering modular solutions that cater to various titling use cases, the company provides services to vehicle retailers, wholesalers, insurance carriers, fleet operators, lenders, and service providers. Their electronic vehicle titling and lien services are available in states such as Kentucky and other regions where they have established partnerships.
Technology Solutions
CHAMPtitles provides modern web portals and APIs, making vehicle title administration more efficient. Their solutions facilitate a shift to a continuously improved cloud-based system of record. For instance, their Digital Title and Registration Suite (DTRS) includes online portals for state citizens and businesses, supporting functions like E-File, Electronic Lien Title (ELT), and VIN Inquiry. The DTRS solution also incorporates title management, registration management, dealer licensing management, and lienholder management, all of which can be launched within six months with no upfront costs.
Strategic Partnerships
CHAMPtitles has collaborated with several organizations to enhance title and registration operations. Their partnerships with companies like LossExpress and Copart help transform title processes for insurance groups and other stakeholders. Their National Digital Titling Clearinghouse launched through West Virginia’s DMV exemplifies these partnerships. Additionally, their Digital Total Loss solution, available in states like Ohio, California, and Alabama, aids in expediting total loss title transactions, with plans to expand this service to more states.
Funding
CHAMPtitles has successfully secured significant investments to fuel its growth and technological advancements. The company raised $18 million in Series C funding led by Point72 Ventures. This follows prior rounds of funding, including $12.9 million Series B and $8.5 million Series A investments. These funds support the continued development and improvement of their cloud-based vehicle titling systems.
Innovations in Vehicle Titling
CHAMPtitles is at the forefront of modernizing DMV title management with their cloud-based solutions that replace legacy systems. Their technology reduces processing times, eliminates paper redundancies, and enhances the citizen experience at no cost to the government. Their Digital Total Loss service expedites the total loss title transactions to an average processing time of five days, showcasing their commitment to efficiency and innovation in the vehicle titling sector.