Within the greatest fundraising for an identification verification firm up to now, Jumio has locked in an investment of $150 million. The funding comes courtesy of Nice Hill Companions, a personal fairness agency that makes a speciality of investments in “high-growth, disruptive corporations.” The funding takes Jumio’s whole funding to greater than $255 million, in response to Crunchbase.
“Jumio’s improvements helped set up the identification verification market, and the necessity to set up somebody’s digital identification remotely has by no means been larger,” Jumio CEO Robert Prigge stated. The corporate plans to make use of the brand new capital to automate its identification 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 world chief in on-line identification verification, fraud detection, and compliance.” He added that given the mandate many establishments need to digitize processes reminiscent of onboarding and KYC monitoring, corporations like Jumio can play a key function 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 Growth Partners in 2016, Jumio has verified greater than 300 million identities issued by 200+ international locations and territories since inception in 2010. With clients and companions in a variety of verticals – from monetary companies and the sharing economic system to retail, journey, and on-line gaming – Jumio leverages AI, biometrics, machine studying, and licensed liveness detection to assist be certain that clients are who they declare to be. Jumio’s KYX Platform, launched last fall, gives organizations with an end-to-end identification verification and eKYC answer 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 stated. “To succeed, organizations should rework rapidly 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 companies that speed up digital transformation with out sacrificing safety and comfort.”
Study extra about how Jumio fights deep fakes and bots in our interview from final summer time that includes firm VP of Advertising, Dean Nicolls.