Notarize Raises $8M for a New Era of Notary as a Service
Since we launched our product in February, life has been absolutely crazy. We knew getting documents notarized was a pain point for consumers and businesses alike, but we had no idea how significant the interest in Notarize would be. And for us, it has been extremely rewarding as we help people execute the most important transactions of their lives.
So, we’re excited to announce that we’ve secured $8 million in Series A financing led by Polaris Partners with participation by Founder’s Fund, Ludlow Ventures and other individual investors! This funding will allow us to further grow Notarize and serve new business markets, such as mortgage and financial services to name a few.
In just four months, we’ve notarized thousands of documents for our clients and the feedback has been incredible. We were featured by Apple as one of the Best New Apps on the entire App Store. We launched Notarize for Desktop. We’ve received hundreds of applications from notaries in Virginia, virtually all of them coming via referrals from the amazing notaries already on our platform. Hundreds more have applied from other states [even though they cannot operate on our platform … yet!]. We’re working with the National Notary Association, the country’s largest and most prestigious association to support our notaries as they serve a national audience. We’ve partnered with Bryce Hall, the preeminent notary training provider in Virginia. We’ve spoken with several other countries interested in enabling remote notarization for their own citizens. And, Adam and I have visited with federal, state, and local leaders across the country to ensure people understand how Notarize operates and to discuss making our platform available to notaries in other states.
Given the importance of the documents executed on our platform and the constituencies that rely upon them, it’s no surprise that our mission touches so many industries and organizations across the country.
We’ve heard from law firms and legal-tech startups, the country’s largest lenders and title companies, commercial construction firms, mineral and gas companies, banks and the financial services industry, the auto industry, state and federal agencies, fertility and adoption clinics, and on and on. Via inbound inquiries, we learn of a new vertical every day. All of these companies tell us that notarization is the top challenge in their operations - it’s often described as the last impediment to a truly digital solution. And we hear industries have been waiting for a solution like ours to emerge.
When a document requires notarization, everything stops.
People can’t afford to waste hours of precious time to track down a notary. Organizations can’t afford to lose customers or wait weeks to get crucially important documents back. And, Notaries Public can’t afford to put themselves in harm’s way as they travel to meet customers in unknown and potentially unsafe situations. What’s more, industry expects increased security and transparency in important transactions. In every other aspect of their business, they benefit from digital audit trails and secure transmission. None of these concepts exist in the standard notary market. It’s simply inexcusable that such an important process is so horribly outdated.
The latest round of funding will help us to scale our operations to solve these problems for everyone.
We’re also thrilled to announce several new members to the team.
Alex Jenkins has joined the company as VP Product. Alex and I worked together at Microsoft and Spindle. He is a remarkable product leader with too many experiences to list, but his most relevant work was as Director Consumer Mobile Design at Fidelity where he led the design team that was first to release a dedicated financial services app for the iPad and first to bring mobile check deposit to the iPhone. You’ll be seeing Alex’s influence on all of Notarize’s products and services very soon.
Dan Tangherlini has joined as Principal of Government, Operations. Dan was formerly the Administrator of the GSA and CFO of the U.S. Treasury Department. At the GSA, Dan was responsible for all federal real estate and contracting. He saw firsthand how technology can fundamentally streamline how government operates and how industry can better interface with government. He’s been an invaluable advisor to Notarize for many months and we are thrilled to have him on the team.
Michael Chodos has joined as General Counsel. Michael has had a remarkable career as an attorney, entrepreneur, and public servant. He’s been involved in countless startups and he’s also helped the national entrepreneurial community in his capacity as the former Deputy General Counsel and Associate Administrator for Entrepreneurial Development at the U.S. Small Business Administration. The SBA is one of the largest loan guarantors in the country and Michael has a keen understanding of the importance of streamlining and reducing fraud in these transactions. A deep understanding of the law is not only important for our operations, but for our product strategy and development. We’re thrilled to welcome Michael’s leadership to the team.
The team will be expanding significantly in Boston and the DC / Virginia area. If you’re interested in improving how people execute the most important transactions of their lives, we’d love to hear from you. We'll be publishing several open positions in the coming weeks.
To our new and existing investors, thank you for your support.
Now, back to work… there are a billion more documents to notarize this year!