BOSTON – (BUSINESS WIRE) – Notary, a pioneer and market leader in remote network authentication (RON), today announced $ 130 million in Series D funding led by VC company focused on fintech Canapi Ventures. Independent Growth Fund Alphabeta CapitalG, Citi Ventures, Wells Fargo, True Bridge Partners and existing investors Camber Creek, Ludlow Ventures, NAR’s Second Centure Ventures and Fifth Wall Ventures also participated in the round. Canapi Ventures partner Neil Underwood will join Notarize’s board of directors. Notarize, which has raised a total of $ 213 million to date, will use the capital to expand operations to meet the company’s growing demand for digital notarization and identity verification technology.
The COVID-19 pandemic has greatly accelerated the need for businesses and consumers to securely digitize transactions that have taken place in person. Yet many of the most important transactions in life, such as buying a home, cannot be done without trust and, most importantly, identity verification.
Through its role in enabling consumers and businesses to complete these transactions online, Notarize has increased its revenue by 600% for the year since March 2020. Amid the massive increase in transactions, Notarize has also signed new partnerships with companies including Adobe, TIAA, Dropbox , Redfin, Zillow Group, First American Financial, Transamerica, Stripe and JD Power & Associates.
„2020. the world hastened to digitize. Online commerce has increased, and businesses in almost every industry have had to switch to digital technology basically overnight to be able to continue continuously. The certification was there to help them secure these deals with confidence and convenience, ”said Pat Kinsel, founder and CEO of Notarize. “We are now working with market leaders in countless industries and have proven that our platform is transforming the way companies work in the digital age. With the support of our investors, we look forward to helping more people and businesses bridge the digital divide to move lives forward in the post-pandemic world. ”
Notarize will use the new funds to innovate and expand the platform and products, expand its business to key industries and adapt to businesses of all sizes, including many of the Fortune 500. Notarize also plans to double employment in the next year.
In the 12 months since Series C raised $ 35 million in March 2020, Notarize has:
Experienced explosive volume growth in all sectors it serves, including 800 +% in real estate, 300 +% in financial services, 200 +% in the automotive industry and nearly 300% in retail and consumer customers.
Increased number of employees by over 100%, with a focus on engineering and customer-oriented roles. Notarize became the first remote company with employees in 23 countries.
They have hired key executives, including their first executive vice president for public affairs who continued to raise awareness of the need for RON law at the state and federal levels, vice president of enterprise strategy and president and chief commercial officer to accelerate growth.
Quotes for investors
“Notarize is not just a notary public – it’s the last mile of multibillion-dollar business models that promise seamless, personalized online billing experiences, and it’s the market-leading solution with the confidence needed to meet the needs of many industries,” said Neil Underwood, Partner. in Canapi Ventures. “Moreover, Notarize is undermining outdated business models and technologies, and there is huge potential, especially in the area of financial services, as more companies will need to offer secure digital alternatives to personal transactions. I am thrilled to have joined the board of this transformation company as they enter their next phase of growth. “
“Over the past year, the online remote authentication market has grown explosively as companies in all sectors have realized the critical need for end-to-end digital processes,” said Jesse Wedler, a partner at CapitalG. “Although Covid was the initial catalyst for adoptions, we see demand acceleration driven by increased process efficiency and compliance improvements enabled by remote network authentication. Notarize is the only enterprise-wide solution in this area that meets rigorous regulatory and compliance requirements. at the same time providing a wonderful user experience. We are excited to work together with Pat and his dedicated team as they reshape how industries work in tomorrow’s economy. ”
“Over 1.25 billion notaries are certified every year in almost all sectors of the American economy. There is a clear opportunity to improve the digitalization experience, ”explains Charles Howe, Director of Venture Investing, City Ventures. “Notarization redefines customer expectations by providing a seamless experience that will be the future of all reliable transactions. City Ventures is thrilled to have joined other market leaders in supporting Notarize’s path to continued growth. ”
“Many companies like Wells Fargo rely on millions of notaries each year to perform a multitude of critical transactions. Online remote authentication increases trust and security, simplifies internal business, reduces the impact of paper-based business on the environment and provides customers with a significantly better experience, ”said Osei Van Horne, CEO of Wells Fargo Principal Technology Investments. “Notarize has created a category and remains a key player in the industry, and we are thrilled to have joined the D Series which further accelerates their growth.”
To learn more about the Notarize platform or how to join as a notary, visit www.notarize.com.
About the notary
Notarize is the first platform that allows thousands of people to sign and certify documents online every day. From adopting a child to buying a home, Notarize builds reliable products and services that support and instill confidence in the most important moments of life. For more information, visit notarize.com.