Jumio, a provider of AI-powered end-to-end identity verification and eKYC solutions, announced it secured a $150 million investment that will boost the defense against fraud and financial crime.
The investment was made by Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies.
The investment will accelerate Jumio’s significant global lead in the digital identity space by devoting additional resources to automate its identity verification solutions, expand the breadth of the Jumio KYX Platform, and grow its suite of AML compliance services.
Jumio brings its document-centric identity approach to leading blue-chip companies across the telehealth, financial services, online gaming and social media spaces.
With this investment, Great Hill Partners' Nick Cayer and Matt Vettel will join Centana Growth Partners and Millennium Technology Value Partners on Jumio’s Board of Directors.
“Jumio’s innovations helped establish the identity verification market, and the need to establish someone’s digital identity remotely has never been greater,” said Jumio CEO Robert Prigge. “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.”
For more information about this news, visit www.jumio.com.