Jumio secures $15 million for further growth [UPDATED]

Jumio has announced funding of $15 million from Centana Growth Partners and Millennium Technology Value Partners.

The company, which specialises in identity verification services for travel companies, as well as businesses in other sectors, will use the funds for product development and further expansion.

It also plans to boost its sales and marketing efforts as well as recruit for positions across offices in the UK, US and Austria.

The investment is a far cry from Jumio’s fortunes earlier this year when it filed for bankruptcy protection and talked of a sale of its assets.

Although one potential bidder was Facebook co-founder Eduardo Saverin, an early investor in Jumio, the company did not sell to Saverin according to a spokesman.

The buyer was Centana Growth Partners with the sale agreed in early May at a US Bankruptcy Court in Delaware.

Centana’s part of the $15 million funding is on top of this acquisition.

Jumio has been touting its recent successes claiming ‘record results’ for the second quarter of 2016 and 30 million transactions completed.

It counts travel companies such as easyJet and Airbnb among its customers.

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About the Writer :: Linda Fox

Linda is Managing Editor for tnooz. For the past decade, she has worked as a freelance journalist across a range of B2B titles including Travolution, ABTA Magazine, Travelmole and the Business Travel Magazine. In this time she has also undertaken corporate projects for a number of high profile travel technology, travel management, and research companies. Prior to her freelance career, she covered hotels and technology news for Travel Trade Gazette for seven years. Linda joined TTG from Caterer & Hotelkeeper where she worked on the features desk for more than five years.



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