Security News > 2021 > March > Jumio raises $150M to fuel innovation and automation

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 pioneering document-centric identity approach to leading blue-chip companies across the telehealth, financial services, online gaming and social media spaces.

"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.

"Jumio has established itself as the de facto global leader in online identity verification, fraud detection and compliance," Cayer said.

In September, Jumio launched the KYX Platform, which combines data from a variety of sources to build a complete digital profile of online users.

Later that month, Jumio acquired the AML platform from Beam Solutions, a San Francisco-based startup focused on transaction monitoring, case management and KYC. The company was also recently named a representative vendor in Gartner's Market Guide to Identity Proofing and Affirmation and also named to CRN's 2021 list of the 20 Coolest Identity Access Management and Data Protection Companies.

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