Jumio, a Palo Alto, Calif.-based provider of AI-powered end-to-end identity verification and eKYC solutions, received a $150m investment from Great Hill Partners.
With this investment, Great Hill Partners’ Nick Cayer and Matt Vettel will join Jumio’s Board of Directors.
The company intends to use the funds to automate its identity verification solutions, expand the reach of its KYX Platform and grow its suite of AML compliance services.
Led by CEO Robert Prigge, Jumio provides a unified, end-to-end identity verification and eKYC platform which offers a range of identity proofing and AML services to establish, maintain and reassert trust from account opening to ongoing transaction monitoring.
Leveraging advanced technology including AI, biometrics, machine learning, liveness detection and automation, Jumio allows organizations yo fight fraud and financial crime, onboard good customers and meet regulatory compliance including KYC, AML and GDPR.
To date, the company has verified more than 300 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors.
Based in Palo Alto, the company operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. It is backed by Centana Growth Partners, Great Hill Partners and Millennium Technology Value Partners.