Total amount raised
$205.4 Millions
Latest funding date
3/1/2021
Location
Jumio has successfully raised significant funding over multiple rounds, securing investments from prominent firms such as Great Hill Partners and Centana Growth Partners. The company specializes in AI-powered identity verification, offering solutions that help businesses combat fraud and meet compliance requirements.
Keep reading to delve into the details of Jumio's funding journey and discover the key investors supporting this innovative platform.
What Is Jumio?
Jumio, founded in 2010 by Daniel Mattes and Rahul Gandhi, is headquartered in Sunnyvale, California. The company specializes in AI-powered identity verification solutions, helping businesses verify identities, assess risk, and meet compliance mandates.
Jumio's platform leverages advanced technologies such as AI, biometrics, and machine learning to provide real-time identity verification using government-issued IDs and selfies. Their services also include AML screening and proof of address analysis.
With a workforce of 501-1000 employees, Jumio has verified over 300 million identities from more than 200 countries and territories, making it a leader in the identity verification industry.
How Much Funding Has Jumio Raised?
- Seed Round
- Amount Raised: $1.4M
- Date: September 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial identity verification technology.
- Series A
- Amount Raised: $6.5M
- Date: March 2011
- Lead Investors: Eduardo Saverin
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the development of Jumio's identity verification platform and scale its operations.
- Series B
- Amount Raised: $25.5M
- Date: January 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform's capabilities and expand market reach.
- Series B (Additional)
- Amount Raised: $3.3M
- Date: May 2012
- Lead Investors: Citi Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development initiatives.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: April 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Debt Financing
- Amount Raised: $3.7M
- Date: March 2016
- Lead Investors: Eduardo Saverin
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To stabilize the company and support its financial needs.
- Venture Round
- Amount Raised: $15M
- Date: August 2016
- Lead Investors: Millennium Technology Value Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue operations and support growth following financial restructuring.
- Private Equity Round
- Amount Raised: $150M
- Date: March 2021
- Lead Investors: Great Hill Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate leadership in digital identity, expand the KYX Platform, and grow AML compliance services.
Total Amount Raised: $205.4M. Current Valuation: Not publicly disclosed.
Key Investors
- Great Hill Partners
- Details: Great Hill Partners is a Boston-based private equity firm that targets investments in high-growth companies. They have raised nearly $8 billion of commitments and invested in more than 75 companies over the past two decades.
- Investment Focus Areas: Technology-enabled services, software, digital media, eCommerce, financial technology, healthcare, business services.
- Notable Investments: AffiniPay, Confirmation, MineralTree.
- Centana Growth Partners
- Details: Centana Growth Partners is an investment firm that focuses on financial services, financial technology, and enterprise technology sectors. They acquired Jumio's assets during its bankruptcy process in 2016.
- Investment Focus Areas: Financial services, financial technology, enterprise technology.
- Notable Investments: AxiomSL, Quantitative Brokers, Vena Solutions.
- Millennium Technology Value Partners
- Details: Millennium Technology Value Partners specializes in growth equity investments in technology companies. They have been involved with Jumio as a shareholder.
- Investment Focus Areas: Technology companies at various stages of growth.
- Notable Investments: Facebook, Twitter, Alibaba.
- Eduardo Saverin
- Details: Eduardo Saverin is a co-founder of Facebook and an active investor in technology startups. He has been a key investor in multiple funding rounds for Jumio.
- Investment Focus Areas: Technology startups, financial technology, digital media.
- Notable Investments: Facebook, 99.co, ShopBack.
- Millennium Technology Value Partners
- Details: Millennium Technology Value Partners is a growth equity firm that invests in technology companies. They have been a significant backer of Jumio.
- Investment Focus Areas: Technology companies at various stages of growth.
- Notable Investments: Facebook, Twitter, Alibaba.
What's Next for Jumio?
Jumio stands at the cusp of significant growth opportunities, driven by the increasing demand for digital identity verification. The $150 million investment from Great Hill Partners will enable Jumio to expand its AI capabilities, enhance the KYX Platform, and grow its suite of AML compliance services. The digital identity market, projected to reach $12.8 billion by 2024, offers a vast landscape for Jumio to scale its operations and innovate further.
Future fundraising opportunities seem promising, given the substantial market potential and the strategic backing from experienced investors. Jumio's focus on automating identity verification and expanding into new sectors like telehealth and online gaming positions it well for additional investment rounds. However, the company must navigate challenges such as evolving regulatory requirements, intense competition, and the need to maintain robust data security measures. Balancing these factors will be crucial as Jumio continues to lead in the digital identity space.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Jumio and gather other critical business insights.
Sign up for free on Clay and start transforming your sales approach today.
