By Rick Triola, NotaryCam co-founder
Elevator Pitch: NotaryCam is revolutionizing notarizations by providing the most secure, convenient, cost-effective notary services. We give people the ability to sign documents online with a live notary public in minutes.
Product/Service Description
The first online service that allows for all parties to legally meet, sign and notarize contracts or agreements in real-time. Signer(s) can be anywhere in the world.
NotaryCam has completely redefined the notarization process, providing the highest level of security possible, including positive verification as to the originality and integrity of the document to be notarized and absolute assurance the signer and notary are who they say they are. To prevent fraud before it occurs, we visually record the signing session and a personal information questionnaire must be completed by the signer.
Perhaps one of the most important benefits of NotaryCam is the ease-of-use. One simply connects to a live notary face-to-face on a webcam and electronically signs the document. It’s that easy.
Here are a few examples of how NotaryCam’s online, real-time notarizations can help:
– Real estate/Mortgage transactions – NotaryCam is the first collaborative industry utility that connects all parties in the real estate, mortgage and escrow settlement process in a virtual closing room. No longer do buyers, sellers, borrowers or agents have to travel to closings.
– Traveling abroad – Not only does NotaryCam help those who are traveling for business or pleasure, but also military personnel. Often the nearest consulate or embassy is miles away and frequently not open when needed. Some testimonials can be found here – https://www.notarycam.com/testimonials/.
– Emergency medical and legal situations – Emergencies seem to always happen at the most unfortunate times, often requiring a notary to get important documentation or health directives notarized, sometimes while overseas.
Founder’s Story
As a long-time and bi-coastal real estate professional, I had experience with having to schedule and attend closings. With the last minute closing appointment, everyone needed to quickly change their schedule. I knew then there had to be a better way.
In the nineties as the Internet was coming into its own, I quickly recognized an opportunity to solve this nightmare—by connecting all the parties, documents, and vendors over the Internet.
I understood that the notary public played a pivotal role in closing the tens-of-millions of real estate transactions each year. My first company, Settleware, completed the first eNotarization in 2004. Although exciting and innovative at the time, the process was clunky, requiring a physical, in-person meeting and additional hardware requirements.
Fast forward to 2012, and electronic adoption was still not catching on. We needed to pivot and NotaryCam was developed to allow our professionally licensed notaries to esign and eNotarize clients’ documents on-demand. We soon discovered U.S. consumers and businesses faced the same inconvenient friction of the notary process in their everyday life, about 500 million times a year. This warranted further incubation and now the spin out of NotaryCam.
Marketing/Promotion Strategy
Most innovation fails because it never reaches the ultimate beneficiary. We continue to develop strategic partnerships that will promote the benefits of closing deals on-demand to partners and their customers, providing a win-win-win. Referrals, social media, SEO, PR, online marketing, networking and meeting directly with potential partners all help us get the message out.
How it works – http://tinyurl.com/a6b6rv4
How the Company Differentiates Itself From the Competition
Although we mostly compete directly with local notaries, none of those are available 24/7, regardless of weather or traffic.
Enterprises demand, and we provide, clear, convincing, and high-level ID verification, a guarantee that all parties appeared, and the long-term storage of the entire ceremony to provide irrefutable evidence. This prevents the ‘he said, she said’ in a court of law.
We have pioneering esign and eNotary domain experience, with well-established relationships and credibility in the industry.
Business Model
We currently offer notary services to individuals and enterprises worldwide who need to notarize documents for a variety of reasons. By eliminating the barriers and inconvenience of the conventional notary process, we deliver tangible benefits by reducing the cost and time spent on notarization.
Current Needs
We are preparing to raise a $750,000 Seed round to add engineering and sales and marketing talent so we can meet the demand in the marketplace.
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Headquarters: Alexandria, Virginia
Website: www.notarycam.com
Founders: Rick Triola, David Kressel
Investors: Settleware Secure Services
Year Founded: 2012
AngelList: angel.co/notarycam
Twitter: @NotaryCam
Facebook: facebook.com/notarycam
LinkedIn: linkedin.com/groups/NotaryCam-6590687
CrunchBase: crunchbase.com/organization/notarycam
