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“Notarize, a Boston-based entity specializing in remote online notarization, has successfully secured a substantial sum of $130 million in Series D funding. This significant financial backing, spearheaded by the fintech-focused VC firm, Canapi Ventures, comes on the coattails of astounding growth, with Notarize experiencing an astronomical 600% year-over-year surge in revenue.
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The valuation of Notarize has now soared to a remarkable $760 million, marking a threefold increase compared to its $35 million Series C funding round in March 2020. Remarkably, this latest funding round surpasses the cumulative sum garnered from all of the company’s previous funding rounds combined, amassing a grand total of $213 million since its inception in 2015.
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A myriad of distinguished investors actively participated in this funding round, including CapitalG, Alphabet’s autonomous growth fund, Citi Ventures, Wells Fargo, True Bridge Capital Partners, alongside pre-existing supporters such as Camber Creek, Ludlow Ventures, NAR’s Second Century Ventures, and Fifth Wall Ventures.
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Notarize does not merely operate as a conventional notary company; instead, it assumes a pivotal role as the “last mile” for businesses, particularly iBuyers. In doing so, it effectively facilitates trust and identity verification within their operational processes.
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Over the past year, Notarize has borne witness to a substantial surge in transactional activities, forging strategic partnerships with industry giants such as Adobe, Dropbox, Stripe, and Zillow Group, among others. The surge in demand has been particularly pronounced within sectors such as real estate, financial services, retail, and automotive.
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CEO Pat Kinsel has passionately underscored Notarize’s pivotal role during the rapid digitization witnessed in 2020. The company played a crucial role in helping businesses seamlessly transition to digital transactions, thereby ensuring a blend of trust and convenience in their operations.
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Armed with this newfound financial backing, Notarize is strategically poised to expand its platform and product offerings significantly. Its ambitious plans include scaling its services to cater to enterprises of all sizes, and it also anticipates a substantial expansion of its workforce in the forthcoming year.
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Neil Underwood, a partner at Canapi Ventures, has enthusiastically emphasized the enormous potential that lies ahead for Notarize, particularly within the financial services sector. As more companies seek secure digital alternatives to in-person transactions, Notarize is primed to thrive in this evolving landscape. This remarkable success marks a significant turnaround for Notarize, following its encounter with financial challenges in 2019.”