Notarize raises $130 mn in Series D funding led Canapi Ventures
By Pavithra R
Notarize, a leading Remote Online Notarization (RON) has announced securing $130 mn in Series D funding led by fintech-focused VC firm Canapi Ventures. The firm has raised $213 mn in total funding to-date.
The investment round also saw participation from Alphabet’s independent growth fund CapitalG, Citi Ventures, Wells Fargo, True Bridge Partners and existing investors Camber Creek, Ludlow Ventures, NAR’s Second Century Ventures, and Fifth Wall Ventures. Canapi Ventures Partner Neil Underwood will join Notarize’s Board of Directors. Notarize.
Founded in 2015, Notarize through its online notary platform allows any person or business to legally notarize a document online, anytime. The company is planning to use the capital to expand operations to meet the growing demand for the company’s digital notarization and identity verification technology. It will also use the finance to broaden business across key industries, and scale to serve enterprises of all sizes, including many of the Fortune 500. Notarize also plans to double down on hiring in the next year.
The COVID-19 pandemic greatly accelerated the need for businesses and consumers to securely digitize transactions. Through its role in giving consumers and businesses options to complete these transactions online, Notarize has increased YoY revenue by 600% since March 2020. Amid a massive increase in transactions, Notarize has also inked new partnerships with companies including Adobe, Dropbox, Redfin, Zillow Group, First American Financial, TIAA, Transamerica, Stripe, and JD Power & Associates.
“In 2020, the world rushed to digitize. Online commerce ballooned, and businesses in almost every industry needed to transition to digital basically overnight so they could continue uninterrupted. Notarize was there to help them safely close these deals with trust and convenience. We’re now working with market leaders across countless industries and have proven that our platform transforms how companies operate in the digital age. With the support of our investors, we look forward to helping more people and businesses bridge digital divides to keep lives moving forward in a post-pandemic world,” said Pat Kinsel, founder and CEO of Notarize.
In the past 12 months, since the company’s $35mn Series C raise in March of 2020, Notarize has:
- Experienced growth across all sectors it serves, including 800+% in real estate, 300+% growth in financial services, 200+% growth in automotive, and nearly 300% growth with retail and consumer customers.
- Increased headcount by over 100%, with a focus on engineering and customer-facing roles.
- Made key leadership hires, including their first Executive VP of Public Affairs to continue to raise awareness about the need for RON legislation at state and federal levels, VP of Enterprise Strategy, and President and CCOto accelerate growth.
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