Centana Growth Partners agreed to acquire Jumio, a start-up specializing in online and mobile credentials authentication company, following a competitive auction conducted under procedures approved by the United States Bankruptcy Court for the District of Delaware.
“The auction process was, as we hoped, competitive and successful,” said Stephen Stuut, Jumio’s CEO. “We are pleased to have achieved an outcome that we believe is not only a terrific opportunity for Jumio going forward, but supports the interests of all our various stakeholders. Centana is a great home for Jumio. With its outstanding financial services expertise and relationships, and the capital to fuel growth, Centana will provide Jumio with the foundation it needs to achieve scale. The transaction will be completed quickly and will enable Jumio to move past our legacy issues to become a stronger, more competitive company. Importantly, it will be seamless for both our customers and the dedicated team of employees who serve them.”
Jumio utilizes proprietary computer vision technology to reduce customer sign-up and checkout friction and verify credentials issued from over 120 countries in real-time web and mobile transactions. The company is headquartered in Palo Alto, California.
