Both born and raised in Tampa, Joseph Bisaillon and James Mitchell met at Williams Magnet School and remained friends throughout high school, college and even moves to Washington D.C. and Dallas, respectively.
So when a friend of theirs with Stage 4 cancer was nearing the end of his life, Bisaillon and Mitchell dropped everything.
"It became a little too much for me (to handle alone in Tampa) and I called James, who was in Texas," Bisaillon said. "I called on a Thursday and said '(He) isn't going to make it. I need you now.'"
By that Monday, Bisaillon and Mitchell were driving from Texas back to Tampa. And it was in the hospital room that the idea for their startup was born.
The pair discovered the lack of notaries needed at a moment's notice was a big enough issue they needed to find a solution.
"There was no notary available and every second counted," Bisaillon said. "We didn’t know if he would be coherent and the holidays were coming up, it was right around Thanksgiving. We looked at each other and said 'This is a problem.' Access 24/7 (to a notary) makes a huge difference and that's when the idea started to swirl."
As a way to address the need as well as honor their late friend, eNotaryLog began to form. It is an online notarization platform that allows users anywhere in the world to notarize forms, which are all HIPAA compliant.
While some may be concerned of the security issues that could come from an online platform, eNotaryLog may actually be more secure than a traditional notary. Electronic notaries are required to keep a log of the documents signed, which are kept in eNotary Log's system for 10 years. Those signing do so over a video so the notary can verify it is their client.
"Everything you do with a notary you can do online," Bisaillon said. "A lot of people are worried that it breaks down the security, but in reality it's stricter than in-person."
The idea was able to fully take off after Governor Ron DeSantis signed House Bill 409 in June 2019, which legalized online notarization effective January 1, 2020 as well as electronic wills and trusts. 22 other states have legalized online notarization.
In Florida, to become a traditional notary, a $7,500 surety bond is required and for an online notary, a $25,000 security bond is required. While eNotaryLog has turned in its bond, it is awaiting the state legislature to file it.
"The primary issue we’re facing is the bond agencies simply were not ready for the date of the bill which was January 1," Mitchell said. "The bond agencies are doing their due diligence, looking at the list and market and correct rate to file that bond currently."
But once the bond is filed and the platform officially launches, Mitchell and Bisaillon believe it will be transformative for the notarization industry.
"We do think it will improve the enterprise of notarization," Bisaillon said. "It's transformative for the space, but also sets a new bar for the security into the notarization process we haven't seen ever before."
The company has raised $2 million in a seed round to launch its product and is now awaiting a bond approval from the state of Florida.
And before even launching, a Tampa-based startup providing electronic notarization is able to list top former CEOs among its board members.
Howard Jenkins, former CEO of Publix, Steve Raymund, former CEO of Tech Data and Dan Bisaillon, a former COO of Americas II Electronics sit on the board for eNotaryLog, which will soon launch to allow online notarization that can be utilized across the globe.
"Some are investors and some we have known because we grew up in the area," Bisaillon said. He is the son of Dan Bisaillon. "We have friends and family we raised with and were able to build a strong board of advisors along the way, which has really made a difference between us and other startups."
eNotary Log is currently in the Tampa Bay Innovation Center 2019 accelerator program and also a member of Embarc Collective. It was important to Bisaillon and Mitchell to keep the company in Tampa.
"We both love this area, we grew up here and wanted to stay here," Mitchell said. "We just want to see this area lift with us."
