Jumio

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Jumio
TypePrivate
IndustryIdentity verification services
Founded2010
Headquarters
Palo Alto California
,
USA
Number of locations
Palo Alto, CA; Linz, Austria; Vienna, Austria; London, UK
Key people
Stephen Stuut (CEO); Robert Prigge (CRO); James Cook (GC)
ServicesIdentity Verification Services
Websitewww.jumio.com

Jumio is an online mobile payments and identity verification company that provides card and ID scanning and validation products for mobile and web transactions,[1][2] which they sell as "Netverify Trusted Identity as a Service".

History[edit]

The company was founded in 2010 by Daniel Mattes, who was CEO until he resigned in April 2015 in conjunction with an internal board investigation.[3] In December 2015, Jumio informed its investors that financial results from 2013 and 2014 would be re-stated.[4]

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.[5]

On May 6, 2016 Jumio was acquired by Centana Growth Partners, a private equity firm specializing in technology companies with a focus on financial services[6] Over its history, the company raised $36.7 million from investors including Citi Ventures, Andreessen Horowitz and others.[7]

References[edit]

  1. ^ Perez, Sarah. "Jumio Turns Webcams Into Credit Card Readers, on Desktop and Mobile". New York Times. Retrieved 12 November 2013.
  2. ^ Wauters, Robin. "Jumio debuts real-time ID verification solution Netverify for Android apps". The Next Web. Retrieved 12 November 2013.
  3. ^ "Exclusive: Jumio swaps CEOs after examining its books - Fortune". fortune.com. Retrieved 16 July 2016.
  4. ^ "Jumio Restates Financial Results for 2013 and 2014 - Digits - WSJ". blogs.wsj.com. Retrieved 16 July 2016.
  5. ^ "Jumio Announces Sale of Business - Jumio". jumio.com. Retrieved 16 July 2016.
  6. ^ "Jumio Reaches Agreement to Be Acquired by Centana Growth Partners | Business Wire". businesswire.com. Retrieved 16 July 2016.
  7. ^ "Jumio | CrunchBase". crunchbase.com. Retrieved 16 July 2016.