Venture Capital News: Notarize Nets $8M Series A Round
ALEXANDRIA, VA, Notarize, the first digital, end-to-end, leading remote notarization platform, today announced it secured $8 million in Series A financing.
The Series A round was led by Polaris Partners with participation by Founder's Fund, Ludlow Ventures and other individual investors. Additionally, Polaris Partners Managing Partner Dave Barrett has joined the board of Notarize.
This investment will fuel the growth and transformation in the antiquated notarization process and help the company serve new business markets, such as mortgage and financial services. This follows Notarize's seed funding of $2.45 million from Polaris Partners, Ludlow Ventures and other individual angel investors, bringing the company's total funding to $10.45 million since it was founded in May 2015.
Since launching in February 2016, Notarize has announced an agreement with the nation's largest and leading notary association, the National Notary Association (NNA), which will assist with training and certification of Notarize's electronic notaries and enable the platform's agents to tap into the NNA's community and support services. This agreement will provide additional support by allowing Notarize to continue to provide a convenient, safe and secure solution to improve the way notarization services are delivered to a national audience.
'Notarize is on a rapid growth trajectory and has experienced incredible momentum, including delivering expanded support for both iOS and desktop versions and notarizing thousands of documents to date,' said Pat Kinsel, founder and CEO, Notarize. 'The feedback we're receiving from users is inspiring, and we are thrilled about redefining the notarization industry by injecting leading technology that empowers consumers and businesses to go digital.'
Notarize has appointed key leaders to help grow the business by opening up new markets, and building on Notarize's market leading technology service. Dan Tangherlini joins Notarize as Principal of Government, Operations. He previously served as the Administrator of the General Services Administration and CFO for the U.S. Department of Treasury. Notarize also brought on Michael Chodos to serve as its General Counsel and Alexander Jenkins to serve as Vice President of Product.
'We're introducing the world to remote notarization and are thrilled to have such experienced leaders join Notarize to help us realize this incredible opportunity and transform how people execute the most important transactions of their lives,' said Adam Pase, co-founder and COO, Notarize.
'Both businesses and individuals rely on notarizations for critical documents, and Notarize offers an online, convenient and secure way to modernize the process,' said Dave Barrett, managing partner, Polaris Partners. 'We are thrilled to be a part of its industry vision and the next phase of the company's exciting growth path. Notarize is extremely well-positioned to transform the notary industry.'
Notarize enables life's most important transactions, anytime, anywhere by providing the first digital, end-to-end, remote notarization service. The Notarize platform allows for a more convenient, affordable and secure solution to antiquated notarization services. The technology also opens many industries, including financial services, real estate and legal, to faster turnaround times and increased productivity with reduced complexity and human error. The company has received $10.45M in funding.
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