AI powered End-to-End Identity Verification Platform, Jumio secured $150 Million

Jumio, a provider of Artificial Intelligence-powered end-to-end identity verification, and eKYC solutions, has now secured a $150 million investment.

Jumio is founded by Robert Prigge. It provides unified, end-to-end identity verification and eKYC platform, which offers a wide range of identity proofing and AML services to establish, maintain and reassert trust from the account opening to ongoing transaction monitoring.

The company operates across the globe with its offices in Latin America, Europe, North America, and the Asia Pacific and has been the recipient of various awards and recognition for innovation.

Jumio CEO Robert Prigge, said, "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."

Nick Cayer, the Growth Partner at Great Hill Partners, said, "Jumio has established itself as the de facto global leader in online identity verification, fraud detection and compliance. Organizations must digitally transform their onboarding, KYC and AML monitoring processes, which have become even more vital as the volume of online and mobile payments reach historic highs. We’re impressed with this team, the company’s robust growth over the last year, its global coverage, and the global market opportunity."

The Great Hill Partners led the latest funding round. Post funding, Great Hill Partners Matt Vettel and Nick Cayer will join as Jumio’s Board of Directors team.

The company as of now, has plans to use the new funds to automate its identity verification solutions, grow its suite of AML compliance services and expand the reach of its KYC platform, notes the announcement.