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Jumio

Jumio
Private
IndustryIdentity verification services
Founded2010
HeadquartersPalo 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)
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

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 VC 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

  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.