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Identity Verification Provider Jumio Snags $150M Investment

Identity verification provider Jumio today announced a new $150 million investment round from private equity firm Great Hill Partners.

Founded in 2016 and based in Palo Alto, Calif. Jumio is a global company that also has offices in Asia, Europe, and Latin America. The company provides services to organizations in sectors such as financial services, digital currency, online gaming, retail, sharing economy, and travel.

Through its end-to-end identity verification and eKYC platform Jumio KYX Platform, the company delivers identity proofing services that help organizations protect their ecosystems. Jumio claims to have verified over 300 million identities in more than 200 countries and territories.

The new infusion of cash, the company says, will help it accelerate market presence through investing in automating identity verification solutions and expanding the KYX Platform and adding more AML compliance services to it.

Jumio also notes that in 2020 it achieved record revenues, in the context of launching the KYX Platform and acquiring the AML platform from Beam Solutions (both events happened in September).

In addition to the investment round, Jumio announced that Nick Cayer and Matt Vettel from Great Hill Partners are joining its Board of Directors, which includes members from Centana Growth Partners and Millennium Technology Value Partners.

“Jumio’s innovations helped establish the identity verification market, and the need to establish someone’s digital identity remotely has never been greater. Nick, Matt and the Great Hill team bring tremendous expertise and a strong track record of innovation and strategic leadership, so we are excited to partner with them as we continue to scale,” Jumio CEO Robert Prigge commented.

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