Stuut to Oversee Next Phase of Growth for Leading Identity Management Company
Palo Alto, Calif., June 24, 2015 Jumio, Inc., the fast growing online and mobile credentials management company, today announced that veteran technology executive Stephen Stuut has been appointed as CEO. Stuut, who brings more than 25 years of experience fueling growth at leading technology companies, most recently spent eight years at the helm of TruePosition, a leader in location-based services.
“I’ve been impressed by Jumio’s market leading technology and am pleased to join at such an exciting time for the company,” said Stephen Stuut, CEO of Jumio. “There’s huge growth opportunity in the global identity management space and I look forward to overseeing the rapid trajectory that Jumio has been on over the past few years.”
Prior to his role at Jumio, Stuut served as Chief Executive Officer of TruePosition, a Liberty Media Portfolio company, where he improved product quality, diversified into new markets and increased gross margin percentage by more than 30 percent. Prior to that, he was President and CEO of Broadband Innovations, where he raised over $30M in equity during his tenure and ultimately oversaw the sale of the company to Motorola. Earlier in his career, Stuut managed the telecommunications practice at McKinsey & Company and was a business strategy consultant for Booz-Allen & Hamilton in Germany and Braxton Associates in the UK.
Jumio has become the ID authentication standard in industries such as financial services, travel, e-gaming, retail and the sharing economy. Utilizing proprietary computer vision technology, the company helps businesses meet KYC (know your customer) and ID verification requirements and fraud reduction goals by authenticating and extracting data from driver licenses, passports or other government issued IDs. Jumio’s products improve the consumer experience by providing an in-app, real-time authentication process for transactions such as international mobile boarding pass issuance, new bank account opening, money transfer and more. Jumio authenticates IDs issued by over 120 countries and is PCI-DSS Level 1 compliant. Stuut succeeds Daniel Mattes, who founded the company in 2010.
Jumio is a leading identity management and credentials company that helps businesses reduce fraud and increase revenue while providing a fast, seamless customer experience. The company 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. Jumio’s products are leveraged by a wide range of clients; from the leading internet companies to start-ups, Fortune 500 and FTSE 350 organizations in the financial services, sharing economy, retail, travel and online gaming sectors. Jumio 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, and has been the recipient of numerous awards for innovation from leading industry associations.