Big News.

Today we are announcing the close of $25.5 million in Series B funding.
Andreessen Horowitz led the round and General Partner Scott Weiss joined Jumio’s board of directors. Jumio’s earlier investors include Eduardo Saverin, co-founder of Facebook, TIBCO Software Inc., a global leader of enterprise software solutions and Peng T. Ong, board director at SingTel, founder of Match.com, Interwoven and Encentuate. Jumio was founded by Daniel Mattes in 2010 and has raised $32 million to date.

Jumio’s patent-pending Netswipe solution turns any webcam into a secure credit card reader, allowing merchants to easily and efficiently accept payments online, making it the first and only solution that enables online card-present transactions.  Additionally, Jumio offers a solution for mobile phones and tablets.
Jumio will use the new funding for team growth and product development.

Verifying a user online – Jumio introduces Netverify

Today we also unveiled Netverify, the company’s newest product for online merchants.
Built with the same patent-pending technology as Netswipe, Netverify turns any camera into an ID reader. It is the easiest way for website owners to confirm a customer’s identity in real time. Netverify eliminates the need for consumers to scan and fax copies of their ID. Instead, they simply hold their ID up to a camera (webcam, mobile phone, tablet), Netverify scans it and the merchant gets an instant verification.
Netverify is designed as a stand-alone tool when an online identification of a user is necessary or as back-up security measure in the sensitive online payment space. With Netverify users do not need any additional hardware.

“Netswipe has been very well-received in the market and Netverify is already making a difference for our customers. There is a real need for seamless, accurate and secure online payments and the possibility to identify a person online. Andreessen Horowitz’ confidence in and involvement with Jumio is a strong indicator of its potential for the market.” – Daniel Mattes, founder and CEO, Jumio.

“Daniel and the Jumio team understand the challenges facing online merchants when it comes to battling credit card and identity fraud because they’re dyed-in-the-wool entrepreneurs themselves and they have encountered the problems that Jumio aims to solve. Jumio’s technology is a huge leap forward for online payments with potential to transform even more industries.” – Scott Weiss, general partner, Andreessen Horowitz

“I am excited to be part of this company. Jumio’s approach is both technologically disruptive and user-friendly in a payments market which is desperate for consumer centric innovation.” – Eduardo Saverin, Facebook co-founder and director on the board of Jumio.

Facebook co-founder Eduardo Saverin is on the board of directors at Jumio. Here’s what he had to say on his Facebook page.

Jumio has now officially launched. Check out the website and demo videos. I am really excited to be involved with Jumio, which has developed a ground breaking technology that fulfills two of the most important aspects of payments processing: heightened security and a simplified user experience. Let me know what you think:)

Visit Eduardo on Facebook.

We are proud to introduce Netswipe: The  solution that reduces fraud for merchants and that makes online and mobile payments easier and more secure than ever.

Today we unveiled a new technology solution for businesses to increase security and ease of use for online and mobile credit card payments. The patent pending Netswipe solution turns a webcam into a secure credit card reader that allows merchants to more easily and efficiently accept payments online.

Here’s what founder Daniel Mattes has to say:

Jumio bridges the gap between the security and trust of credit card payments at the point of sale and the availability and convenience of modern day online transactions.

Consumers love the ease-of-use and the smooth experience associated with completing a transaction. At a time when both consumers and businesses are looking for more efficient and safe ways to make credit card purchases, Netswipe promises to usher in a new era of disruption that makes online payments easier than ever before.

Bringing Card Present Transactions Online

Netswipe is the first and only solution that enables online card-present-transactions: Checking out just like at the point of sale (POS). To complete a transaction, consumers briefly hold their credit card in front of their webcam. Through secure videostreaming, the credit card details are being recognized and verfied. No snapshot image is being taken, no data is stored on the computer that is used for the payment.

A More Efficient Payment Technology for Merchants

Business owners can implement Jumio’s Netswipe service into their payment process to reduce fraud and increase sales due to a heightened user experience.

During our pilot phase, we have conducted a customer survey with a focus group who have used Netswipe.  Amongst other impressive numbers, the churn rate decreased significantly from 52% to 21%.

With the launch, Jumio has introduced three products for merchants that simplify the online payment process: Netswipe Start, Netswipe Scanning and Netswipe Processing. Additional products including a mobile solution will be released later this year.

Partners, High Profile Board of Directors

Jumio’s pre-launch negotiations attracted an impressive list of partners. Facebook co-founder Eduardo Saverin, member of the Jumio board of directors, previously led a Series A funding round of US$ 6.5m and will oversee Jumio’s rollout into the Asian market.

The Facebook co-founder has the word.

I am very excited to be involved with Jumio, which has developed a ground breaking technology that fulfills two of the most important aspects of payments processing: heightened security and a simplified user experience.

Additionally, Jumio’s advisory board includes former executives from Google, Amazon and NASA.

The announcement of Eduardo Saverin’s involvement with Jumio generated enormous media reaction. We are extremely proud to give you a quick overview of who said what.

Here’s TechCrunch:

Exclusive: Facebook Co-Founder Eduardo Saverin Leads $6.5M Round For Jumio

Huffington Post boasts:

Jumio Gets Major Investment From Facebook Co-Founder Eduardo Saverin

Sez’ VentureBeat:

Facebook co-founder Saverin backs mobile payment startup Jumio

Hot Mercury News:

Jumio: Facebook co-founder Saverin leads $6.5M funding for Mtn. View startup

All Things Digital ain’t shy either:

Facebook Co-Founder Eduardo Saverin Leads Funding for Jumio

A few international responses

L’Expansion, France

Le co-fondateur de Facebook investit dans un nouveau site de paiement en ligne

O Dia, Brasil

Brasileiro do Facebook investe mais de US$ 3 bi em start up

Der Standard, Austria

Facebook Co-Founder Saverin steigt bei Linzer Startup-Jumio ein

Thanks for reading, stay tuned for more to come.