We’re thrilled to share more about our investment in OneNotary, an end-to-end platform for remote online notarization (RON) services.
Some of the most exciting events in life require legal documents to be notarized: buying a house, applying for a passport, buying a car, the list goes on. In fact, over one billion documents get notarized in the US every year. Traditionally, getting a document notarized has been very inconvenient. It involves searching databases for notaries, traveling to the closest notary (which might not be very close), and coordinating attendance with all parties involved in the legal transaction. This becomes especially difficult for situations like purchasing a home remotely or when parties aren’t physically in the same location. In the months and years since the global pandemic began, the need and demand for a remote solution increased exponentially.
That’s where OneNotary comes in. The company provides RON services for individuals, small businesses, and enterprises, where documents can be notarized remotely in as little as 15 minutes. OneNotary’s Notary AI Engine automates the routine work in notarizations, eliminating human error and reducing the risk of fraud. The company has a nationwide network of over 20,000 virtual notaries to help customers on-demand. Businesses, such as law firms or title agencies for example, can white-label OneNotary’s platform to streamline the notarization process for their customers. While most states have enacted legislation to allow for remote notarization, the regulations are still fragmented and under local jurisdiction, meaning each city, county, and state has its own rules. OneNotary uses technology to alleviate this complexity with its compliance engine, and in situations where a physical notary is still required, the company provides notaries that can travel to customers.
Ivan was inspired to start OneNotary during the start of the pandemic. He saw an opportunity for technology to be used to ensure life’s important legal milestones, like creating trusts, getting a marriage license, or setting up medical directives, could continue to be achieved in a remote world. Ivan and his team have worked together for years developing new software, which has enabled them to scale quickly.
The LegalTech Fund invests in companies that transform the world of law and OneNotary is doing just that. The company is using technology to make a legal process more efficient and convenient for people and businesses. Another one of our investment theses is harnessing the power of legal data, which OneNotary is doing by structuring data from regulations to stay up-to-date and compliant with the changing rules around remote online notarization. We are excited by the company’s progress and potential to capitalize on this growing industry.
Please welcome OneNotary to The LegalTech Fund family and let us know if we can connect you to learn more.