Notarize, a US-based digital notary service backed by property developer Lennar and real estate services firm Realogy Holdings, completed a $35m series C round in March this year, it disclosed last week.
Venture capital firms Camber Creek and Polaris Partners co-led the round with undisclosed existing investors. A regulatory filing from April indicates Notarize had raised $25.7m of a targeted $38.8m, and that the amount included the conversion of $3.8m in promissory notes.
Founded in 2015 as 16 Pins, Notarize has developed an online platform enabling customers to have documents legally notarised. Applications for the offering include commercial agreements, retirement withdrawals, healthcare proxies, mortgages and home refinancing.
The series C funding has been used to drive business growth during the coronavirus lockdown, with more than $7bn of real estate transactions notarised in June alone. Notarize has also opened its platform to independent notaries and is hiring thousands directly.
Notarize said it has received approximately $82m in funding in total. It closed its series B round at $36.9m in August 2019, according to a regulatory filing.
Lennar and an unnamed Realogy subsidiary took part in the round’s $20m first tranche, which was led by Polaris Partners in mid-2018 and which included Second Century Ventures, the investment vehicle formed by the National Association of Realtors, as well as Founders Fund and Fifth Wall Ventures.
Founders Fund, Polaris Partners and Ludlow Ventures had previously provided $8m in series A funding for the company in June 2016, the latter two having already supplied $2.4m of seed capital earlier the same year.
