Jumio Raises $15M


What does Jumio do?

Jumio, is the leading digital ID verification company. The company delivers the next gen in digital ID verification, helping businesses in reducing fraud and increasing revenue while providing a seamless, fast customer experience. The company uses proprietary computer vision technology for reducing customer sign up and checkout friction and verifying credential issued from more than a hundred and twenty countries in real time mobile and web transactions.

How much Jumio was funded?

The company raised $15M in undisclosed round on August 30, 2016 from Millennium Technology Value Partners and Centana Growth Partners.

Previous funding

$1.37M in undisclosed round on September 22, 2010

$6.5M in Series A on March 17, 2011 from Eduardo Saverin and Kishore Ganji

$25.5M in Series B on January 12, 2012 from Andreessen Horowitz and Kishore Ganji

$3.35M in Series B on May 1, 2012 from Citi Ventures

Undisclosed amount on April, 2014 from SharesPost Investment Management

3.7M on March 21, 2016 from Eduardo Saverin

What is next for Jumio?

Jumio has a huge growth in the market, having identified the record results for the second quarter of this year, with a greater than sixty five percent growth in recurring revenue every year, and a record 30 M transactions completed to date. The latest funding will help the company in extending its leadership position in the digital identity verification space, for aggressively expanding its sales and marketing efforts and accelerating product development and international expansion. This latest funding adds Millennium to the company’s board and investors.

More about Jumio

Jumio was founded on January 5, 2010 by Daniel Mattes. It has its headquarters in Palo Alto, CA. The company uses computer vision technology for verifying credentials issued by more than 200 hundred countries in real time mobile and web transactions. This company solutions are used by leading organizations in the sharing economy, financial services, travel, retail and online gaming sectors.