Sacra estimates Notarize hit $80M in revenue in 2023, growing 33% year-over-year. The company experienced explosive growth during the COVID-19 pandemic, with revenue surging 600% between March 2020 and early 2021, leading to a $130M Series D funding round at a $760M valuation.

Notarize generates revenue primarily through its B2B enterprise partnerships with real estate companies, financial institutions, and legal services firms that require secure remote notarization capabilities. The company's platform enables businesses to integrate digital notarization services directly into their workflows, creating recurring revenue streams through enterprise subscriptions and per-transaction fees.

The real estate sector represents a significant portion of Notarize's revenue, as mortgage closings and property transactions require extensive notarization services. The company has established partnerships with major title companies and lenders, who utilize the platform to streamline closing processes and reduce operational costs.

Notarize's business model benefits from high margins due to its digital-first approach and automated workflows. The company's growth trajectory suggests continued expansion in the digital notarization market, particularly as businesses increasingly embrace remote and digital solutions for traditionally in-person services.

Notarize raised $130M in a Series D round in March 2021 led by CapitalG, Citi Ventures, and Wells Fargo at a $758M valuation. With $25M in revenue for 2021, this implies a 30.3x revenue multiple.

The company has raised a total of $225M from investors including Polaris Partners, Camber Creek, Realogy, Lennar, and Ludlow Ventures.

Notarize rebranded to Proof and has evolved from a remote online notarization platform into a broader digital trust and identity infrastructure company. The core product remains a platform connecting users with licensed notaries via secure video calls—users upload a document, verify their identity through multi-factor authentication, and complete the notarization live on video—but this now sits within a larger suite of identity and transaction security tools.

Proof has extended its platform into cryptographic identity infrastructure with two products that address AI-generated fraud, deepfakes, and impersonation. Certify binds a verified human identity to digital content using public-key infrastructure (PKI), creating tamper-evident records that can be independently verified (launched October 2025). Alongside it, Proof has built a digital credential solution for digital asset services that enables wallets and service providers to prove KYC status and identity in a repeatable, privacy-preserving way, including what Proof describes as the industry's first entity-level certification solution for U.S. sanctions screening.

Proof has also partnered with IDEMIA Public Security to build reusable verifiable digital credentials combining IDEMIA's authentication technology with Proof's PKI-based authorization network, with stated use cases spanning payments fraud, KYC, and enterprise identity verification (partnership formed March 2026).

The enterprise platform supports 8,000 organizations across financial services, real estate, government, and healthcare, and has surpassed 5 million remote online notarizations with nearly 1 million hours of recorded identity sessions logged.

Proof (formerly Notarize) operates as a digital trust platform connecting individuals and businesses needing notary and identity verification services with certified notaries and cryptographic identity infrastructure, available 24/7.

The company generates revenue through a transaction-based model, charging $10 per notarization plus $3 for each additional seal, with real estate closings priced at a premium rate of $25 per notarization. Enterprise customers access the platform via API integrations and workflow tools, creating high switching costs and recurring volume-driven revenue.

Proof's go-to-market has shifted up-market toward large enterprises. The platform now serves more than 16 Fortune 100 companies and 8,000 organizations broadly, processing more than $200B in transaction flows annually and having secured more than $600B in digital transactions cumulatively. In real estate, Proof handled more than $200B in closings in 2025, growing transaction volume roughly 30% year-over-year, and powered approximately 10% of Texas real estate closings by mid-year.

The network effects that underpin the core marketplace—more notaries improving availability, attracting more customers—are being extended into a broader identity trust network. Deep integrations with financial services, real estate, and now payments infrastructure (including a collaboration with Visa targeting $55T in annual money-movement flows) increase platform stickiness and expand monetizable transaction surface area beyond notarization.

Proof (formerly Notarize) competes across three distinct layers: traditional and remote notarization, enterprise document workflows, and—increasingly—digital identity and payments security.

Direct RON competitors include DocVerify, NotaryCam, and SIGNiX, which enable remote notarization through video and digital signatures, with SIGNiX focused on regulated industries like healthcare and financial services. These platforms charge $25–40 per notarization and remain narrowly focused on the core RON use case, while Proof has moved well beyond it.

DocuSign Notary, launched in 2020, competes directly in RON by bundling notarization into its existing enterprise e-signature relationships. Adobe Sign has similarly integrated lightweight notarization capabilities. Both companies have large enterprise install bases and can price notarization as a low-cost add-on, pressuring standalone RON pricing. Proof's response has been to move into cryptographic identity infrastructure—where DocuSign and Adobe do not yet compete—rather than fight on price.

Proof's newer products, Certify and its digital credential solution, put it in competition with identity verification platforms like Jumio, Onfido, and Persona, as well as KYC infrastructure providers serving financial institutions. The Visa collaboration and OmniTrust product for money-movement flows additionally position Proof against fraud and compliance vendors operating in the $55T annual payments space. This is a substantially different competitive set than traditional RON rivals, with higher contract values and longer sales cycles but also stronger defensibility through network-level trust infrastructure.

Proof's evolution from a notarization platform into a digital trust and identity infrastructure company opens several large TAM vectors beyond its core RON business.

The launch of Certify directly targets the emerging market for AI-generated fraud prevention—deepfakes, synthetic identity, and falsified content. As AI lowers the cost of impersonation, enterprises and governments need cryptographic proof of human identity attached to documents and communications. Proof's PKI-based infrastructure and recorded identity session network position it as a verification layer for this problem. The broader digital identity verification market is projected to reach $70B by 2027.

The Visa collaboration signals Proof's intent to secure money-movement flows, targeting what Proof describes as $55T in annual transaction volume through its OmniTrust product. Embedding identity and agreement verification into high-value payments represents a step-function expansion in addressable market relative to per-notarization fees. This pits Proof against fraud and compliance infrastructure vendors at financial institutions rather than competing notarization platforms.

Proof's digital credential solution for digital asset services—including its entity-level sanctions screening certification and partnership with Lightspark—addresses KYC and compliance infrastructure needs for crypto wallets, exchanges, and service providers. Regulatory pressure on digital asset platforms to implement robust identity and sanctions screening is accelerating, and Proof's privacy-preserving, reusable credential model reduces friction compared to repeated point-in-time KYC checks. The IDEMIA partnership further extends this infrastructure to government-grade identity authentication use cases.

Regulatory fragmentation: Proof operates under a patchwork of state RON laws, and any reversal in state-level acceptance of remote notarization could shrink its addressable market. Its expansion into digital asset compliance and payments adds federal regulatory exposure across FinCEN, OFAC, and SEC jurisdictions simultaneously.

Platform displacement: DocuSign and Adobe can bundle notarization as a low-cost add-on to existing enterprise contracts, while identity verification incumbents like Jumio and Onfido are well-capitalized competitors in Proof's newer product lines. Proof's multi-front expansion increases the number of well-resourced incumbents it must outcompete.

AI fraud liability: Proof's Certify product is positioned as a defense against AI-generated fraud, but a successful breach or falsified transaction attributed to the platform could generate outsized reputational and legal liability, given Proof's role as the trust anchor in high-value financial and real estate transactions.