Notarize raises $130 million
Online notarization startup Notarize announced $130 million in Series D funding led by Canapi Ventures. 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 also participated in the round. To date, Notarize has raised $213 million.
The pandemic accelerated the need for businesses and consumers to digitize transactions that used to happen in person and as a result, Notarize saw its YoY revenue increase by 600% since March 2020. The startup also inked new partnerships with companies including Adobe, TIAA, Dropbox, Redfin, Zillow Group, First American Financial, Transamerica, Stripe, and JD Power & Associates.
“Notarize isn’t just a notary company — it’s the last mile of multi-billion-dollar business models that promise seamless, personalized online ‘checkout’ experiences, and it’s the market-leading solution with the trust at scale required to meet the needs of numerous industries. What’s more, Notarize is disrupting outdated business models and technologies, and there’s massive potential, particularly in the financial services space, as more companies will need to offer secure digital alternatives to in-person transactions. I am thrilled to join the board of directors of this transformational company as they enter their next growth phase.” – Neil Underwood, Partner at Canapi Ventures.
“Over the past year, the market for remote online notarizations has grown explosively as businesses across sectors have grasped the critical need for end-to-end digital processes. While Covid was an initial catalyst for adoption, we are seeing an acceleration of demand driven by process efficiency gains and compliance improvements made possible by remote online notarization. Notarize is the only enterprise-grade solution in this space that meets rigorous regulatory and compliance requirements, and it does so while also delivering delightful user experiences. We’re excited to be working alongside Pat and his dedicated team as they rewire how industries work in tomorrow’s economy.” – Jesse Wedler, Partner at CapitalG.
“Over 1.25 billion notarizations take place every year, across nearly every sector of the American economy. There is clear opportunity to improve the experience through digitization. Notarize is redefining client expectations by delivering a seamless experience that will be the future of all trusted transactions. Citi Ventures is thrilled to join other market leaders in supporting Notarize’s path to continued growth.” – Charles Howe, Director of Venture Investing, Citi Ventures.
“Many companies like Wells Fargo rely upon millions of notarizations each year to complete a multitude of critical transactions. Remote online notarization increases trust and security, streamlines internal operations, reduces the environmental impact of paper-based operations, and provides a fundamentally better experience for customers. Notarize created the category and remains a key player in the industry, and we’re thrilled to join the Series D which further accelerates their growth.” – Osei Van Horne, managing director of Wells Fargo Principal Technology Investments.
