Within the largest fundraising for an id verification firm up to now, Jumio has locked in an funding of $150 million. The funding comes courtesy of Nice Hill Companions, a non-public fairness agency that makes a speciality of investments in “high-growth, disruptive firms.” The funding takes Jumio’s whole funding to greater than $255 million, based on Crunchbase.
“Jumio’s improvements helped set up the id verification market, and the necessity to set up somebody’s digital id remotely has by no means been higher,” Jumio CEO Robert Prigge mentioned. The corporate plans to make use of the brand new capital to automate its id verification options, develop the breadth of its Jumio KYX Platform, and additional construct out the platform’s suite of AML compliance options.
As a part of the funding, Nice Hill Companions’ Nick Cayer and Matt Vettel will be part of Jumio’s Board of Administrators. Cayer, who has been with Nice Hill since 2006, praised the corporate as “the de issue international chief in on-line id verification, fraud detection, and compliance.” He added that given the mandate many establishments need to digitize processes akin to onboarding and KYC monitoring, companies like Jumio can play a key position in serving to them hold tempo with the rising quantity of digital and mobile-based transactions.
Making its Finovate debut in 2013 and being acquired by Centana Progress Companions in 2016, Jumio has verified greater than 300 million identities issued by 200+ international locations and territories since inception in 2010. With prospects and companions in a variety of verticals – from monetary providers and the sharing economic system to retail, journey, and on-line gaming – Jumio leverages AI, biometrics, machine studying, and authorized liveness detection to assist be certain that prospects are who they declare to be. Jumio’s KYX Platform, launched final fall, offers organizations with an end-to-end id verification and eKYC resolution that allows them to onboard new accounts safely and precisely, hold current accounts safe, and meet their compliance obligations almost about KYC, AML, and GDPR.
“Digital transformation is greater than a buzzword. It’s right now’s enterprise crucial,” Prigge mentioned. “To succeed, organizations should remodel shortly and do it in ways in which construct belief, safety, and satisfaction. Companies can tailor the Jumio KYX Platform to suit their distinctive wants and dangers and faucet into providers that speed up digital transformation with out sacrificing safety and comfort.”
Be taught extra about how Jumio fights deep fakes and bots in our interview from final summer season that includes firm VP of Advertising, Dean Nicolls.