Notarize, the Remote Online Notarization (RON) company, announced $130 million in Series D funding led by fintech-focused VC firm 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.
Canapi Ventures Partner Neil Underwood will join Notarize’s Board of Directors. Notarize, which has raised $213 million in total funding to-date, will use the capital to expand operations to meet the skyrocketing demand for the company’s digital notarization and identity verification technology.
The COVID-19 pandemic greatly accelerated the need for businesses and consumers to securely digitize transactions that used to happen in person. Yet many of life’s most important transactions, like buying a home, cannot be completed without trust and identity verification.
Through its role in giving consumers and businesses options to complete these transactions online, Notarize has increased YoY revenue by 600 percent since March 2020. Amid a massive increase in transactions, Notarize has also inked new partnerships with companies including Adobe, TIAA, Dropbox, Redfin, Zillow Group, First American Financial, 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,” said Pat Kinsel, founder and CEO of Notarize.
“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.”
Notarize will use the new financing to innovate and expand the platform and product, 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.
In the 12 months since the company’s $35 million Series C raise in March of 2020, Notarize has experienced explosive volume growth across all sectors it serves, including 800 percent in real estate, 300 percent growth in financial services, 200 percent growth in automotive, and nearly 300 percent growth with retail and consumer customers.
The company has doubled its workforce and now has employees in 23 states.