PALO ALTO, Calif. – Jumio, Inc., the fast growing online and mobile credentials management company, today announced it has been selected to the Red Herring Top 100 leading private companies in North America, in recognition for its innovative payments and ID verification products and progress in the market. Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation and intellectual property, management quality, business model, customer footprint, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to compile a list of the most promising new business models in North America.
“We’re honored that Red Herring recognized Jumio for our advancements as we look to fundamentally change the way people make payments or verify their identity on mobile and other connected devices,” said Daniel Mattes, founder and CEO of Jumio. “Consumers want convenient, safe ways to transact online and merchants want to reduce the risk of fraudulent activity. This award validates the advancements we’ve made to provide technologies that meet both of these demands.”
Jumio’s Netswipe lets consumers scan and validate their credit card using their computer or smartphone camera, eliminating the need for error-prone key entry, leading to increased conversion rates and revenue, and enabling reductions in fraud and associated chargeback costs. Netverify is the easiest way for a business to validate a customer’s identity in real time, allowing consumers from over 60 countries to scan their ID, driver license, passport or utility bill to verify their identity for account registrations, large purchases, or to meet a variety of KYC requirements.
“In 2013, selecting the Top 100 achievers was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “In fact, we had the toughest time in years because so many entrepreneurs have crossed significant milestones so early. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 Winners. We believe Jumio embodies the vision, drive and innovation that define a successful entrepreneurial venture. Jumio should be proud of its accomplishment, as the competition was very strong.”
Red Herring Top 100 America enlists outstanding entrepreneurs and promising companies to help select one hundred award winners, among the 3000 tech startups financed each year in the US and Canada. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, Marin Software, Palo Alto Networks, and eBay would change the way we live and work.
Utilizing advanced computer vision technology, Jumio is a next generation credentials management company offering payments and ID scanning & validation products for mobile and web transactions. Designed to reduce fraud and increase revenue by minimizing friction in customer transactions, Jumio’s products integrate easily into mobile apps or websites and create great customer experiences. Jumio’s products are widely used by leading retailers, marketplaces and financial institutions.
Jumio’s Netswipe® enables customers to scan their cards in online and mobile checkout resulting in increased revenue and reduced fraud for the merchants. Netverify® supports real-time ID verification in over 60 countries to help clients meet a variety of know-your customer requirements. The company was founded in 2010 by CEO Daniel Mattes and is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder, Eduardo Saverin. Headquartered in Palo Alto, California Jumio operates globally with offices in the US and Europe.