KUALA LUMPUR, March 23 (Bernama) -- Jumio, AI-powered end-to-end identity verification and eKYC solutions provider, has secured a US$150 million investment from Great Hill Partners. (US$1 = RM4.112)
This infusion represents the single largest funding round in the digital identity space and speaks to the global importance of establishing a user’s identity remotely to defend against fraud and financial crime, comply with KYC and AML regulations and boost online conversions.
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.
According to a statement, 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.
Great Hill has deep growth investing experience across the cybersecurity, compliance and financial technology sectors, having scaled and added value to a range of tech-enabled companies including AffiniPay and MineralTree.
Evercore served as financial adviser while Winston & Strawn LLP served as legal counsel to Jumio. Moelis & Company LLC served as financial adviser and Goodwin Proctor LLP served as legal counsel to Great Hill Partners.
-- BERNAMA
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