Jumio
| Private | |
| Industry | ID & Identity Verification Services |
| Founded | 2010 |
| Headquarters | Palo Alto California, USA |
|
Key people
|
Stephen Stuut (CEO); Robert Prigge (CRO); James Cook (GC) |
| Website | www |
Jumio is an online mobile payments and identity verification company that provides ID scanning and validation products for mobile and web transactions. The company provides card and ID scanning technology. Jumio is the creator of Netverify® Trusted Identity as a Service, which enables businesses to reduce fraud and increase customer conversions while providing a seamless customer experience. With Netverify Trusted Identity as a Service customers have a complete identity verification solution that can be tailored to fit their specific business requirements. Netverify Trusted Identity as a Service combines biometric facial recognition, facial image matching, ID verification, and document verification to ensure the physical identity matches the real-world identity. Jumio has verified more than 30 million identities issued by over 200 countries from real time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, higher education, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in the US and Europe, and has been the recipient of numerous awards for innovation.
In February 2017 Jumio released the industry’s first web and mobile document verification solution, Netverify Document Verification. Netverify Document Verification solves the current expensive and error-prone manual processes businesses use to extract and compare names and addresses for KYC and AML
The company was founded in 2010 by Daniel Mattes, who served as CEO until he resigned in April 2015 in conjunction with an internal board investigation. In December 2015, Jumio informed its investors that financial results from 2013 and 2014 would be re-stated.
In March 2016, the company stated that "Certain legacy issues combined with related government investigations and proceedings have made it difficult for Jumio to secure necessary funding for its operations." As a result, it was entering Chapter 11 restructuring proceedings.
On May 6, 2016 Jumio was acquired by Centana Growth Partners, a VC specializing in technology companies with a focus on financial services Over its history, the company raised $36.7 million from investors including Citi Ventures, Andreessen Horowitz and others.
In February 2017 Jumio continued to advance identity verification with the industry’s first web and mobile document verification solution, Netverify Document Verification. Netverify Document Verification solves the current expensive and error-prone manual processes businesses use to extract and compare names and addresses from secondary documents such as utility bills and bank statements to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
Jumio’s Netverify® Trusted Identity as a Service was honored as “The Cutting Edge Biometrics Security Solution” winner in the 5th Annual 2017 Cyber Defense Magazine InfoSec Awards awarded in February 2017.
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