Funding Daily: Notarize launches with $2.4 million to shake up the notary system

Virginia-based startup Notarize, an electronic notarization system, launched today after a $2.4 million seed investment led by Polaris Partners, the startup announced.

Notarize said that it takes advantage of a law passed in Virginia in 2011 “allowing appropriately certified Virginia notaries to complete remote notarization via live video call.” Papers notarized by Notarize will have a Virginia notary stamp that should be valid in all 50 states, the company said.

“A document remotely notarized in Virginia is valid across state lines due to the Full Faith and Credit Clause of the United States Constitution in addition to state laws that specifically address and accept out of state notarizations across the country,” explained the startup’s website.

The service is available 24/7, and each notarized signature costs $25.

Ludlow Ventures also joined the round.