OneNotary Closed a Seed Funding Round
«Stripe» in Online Notarizations
OneNotary raises $1.75M to build an online notary infrastructure that enables Remote Online Notarization (RON), in any SaaS solution within hours and helps to keep customers inside their existing working tools.
A seamless, no-code integration platform with a fleet of over 10,000 notaries spread across the United States, making OneNotary a world-class notary solution. Designed for businesses seeking a simple and seamless integration to speed up document execution.
OneNotary, a leader in online notarizations and infrastructure development, has raised $1.75 million in Seed Round Capital Funding. Primary investors include: The Legal Tech Fund, GoodPaper Venture, Adventures Lab VC, TMT Investments, Digital Future VC and U.Ventures.
The company plans to utilize the newly acquired capital to scale the platform for use in all 50 United States as well as, provide artificial intelligence (AI) tools to notaries that speed up document preparation and autonomously verify document errors. Additionally, OneNotary will aggressively market to increase education and awareness about remote online notarization around the world.
Status quo in the notary space
In 2021, 99% of the US population continued to notarize the bulk of it’s documents using the traditional method of paper, pen and rubber stamp. On average, more than 1 billion notarizations are needed each year in the United States; despite the challenges and changes that COVID-19 brought about, less than 1% of notarizations are executed online. The adoption rate of Remote Online Notarizations has been impeded by at least two (2) fundamental issues:
#1 Legislation – State Regulated Notary Laws
Before the COVID-19 pandemic, only a few states passed permanent RON laws which allowed for Remote Online Notarization to be the new standard in notary acts. During the COVID-19 pandemic, an additional 39 states passed emergency legislation allowing Remote Online Notarization. Currently, only 11 United States remain without permanent RON laws. Those with permanent laws still face compliance at the county level as they continue to educate and adopt these new state laws. The industry estimates that by end of 2022 there will be full compliance and adoption as Remote Online Notarizations are proving to be more secure with audio/video recording, signer id verification and tamper-proof digitally sealed documents.
#2 High Industry Segmentation
Notarial Acts have always been a staple in our lives, from real estate and automobile transactions to the education and estate planning sectors. In nearly every industry, in every state a notarial act is often needed; however, the notary has always been confined to their commissioning state. Each commissioning state sets its own standard, its own rules and laws for the notary to follow. For a signatory to execute a document he/she may require two or three (2-3), witnesses and a notary public or just a notary public. In other cases, a signatory may require a Spanish, French or German-speaking notary whatever the case, Remote Online Notarization solves it. The OneNotary platform handles the complexity of individual requests with ease whereas a traditional notary may not be able to accommodate such requests instantly. This causes additional delays in document execution while the signatory searches for an appropriate notary. OneNotary’s army of over 10,000 notaries Nationwide is capable of covering any sophisticated notary request from any industry.
OneNotary Enables Online Notarization all over the US
The OneNotary Team continues to pursue making Remote Online Notarization the standard nationwide. OneNotary’s team will shoulder the burden or document execution.
24/7 On-Demand Notaries
Well-trained vetted notaries from all over the United States can remotely cover any comprehensive notarization and apostille case.
Full Legal Support
OneNotary takes the hassle out of navigating state-specific notary laws. We ensure that our team remains compliant with applicable laws by reviewing legislation daily!
Autonomous (AI) Document Preparation
AI-based tools assist notaries in completing documents within seconds and verify the documents are compliant and error-free prior to completing each session.
OneNotary provides a comprehensive toolkit for integrating an online notary platform to any web-based solution within hours, not days or months, keeping your customers inside your platform or regular working tools.
“The goal of The OneNotary Provider is to help businesses speed up document execution while maintaining accuracy. Our industry-leading platform provides a simple yet, comprehensive, no-code integration solution to enable any business access to seamless, secure, online notarization.” —Ivan Zinkov CEO of OneNotary
“OneNotary solves an important problem of notaries’ remote work, which today is an absolute must for both individuals and companies. We are happy to support an excellent team in this round and we see very good prospects for the development of the project.” — Artyom Inyutin, Co-founder & Managing Partner, TMT Investments