# Zumigo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zumigo

- Industry: Software
- Headquarters: San Jose, US
- Website: www.zumigo.com
- Total disclosed funding: $6M
- Latest round: Series B (Aug 22, 2014)
- Investors on record: 3

## About

Zumigo delivers digital identity verification solutions that mitigate fraud and improve user experiences. Its innovative technology secures authentication processes across various sectors, particularly in e-commerce and lending.Founded in 2008 and headquartered in San Jose, US, Zumigo specializes in digital identity solutions. The company has undergone strategic pivots to enhance its offerings. Chirag Bakshi, who also serves as CEO, is the founder. Zumigo raised USD 6.00 mn in SERIES B funding on August 22, 2014, with Intel Capital leading the round alongside Aligned Partners and Wells Fargo Bank. The total amount raised to date stands at USD 6.00 mn.Zumigo specializes in digital identity verification solutions focused on reducing fraud and enhancing user experience across various sectors. Its core offering, Zumigo DeRiskify, allows businesses to authenticate user identities using real-time information sources, providing risk signals that help prevent fraudulent activities before they occur. This solution is designed for a range of applications, particularly in e-commerce and lending, enabling secure passwordless account access that enhances checkout processes and conversion rates. Targeting industries that require robust identity verification, Zumigo's clientele includes businesses in finance, retail, and telecommunications, with a global reach extending to markets such as North America, Europe, and parts of Asia. The company aims to solve the challenges of 'Digital Identity Sprawl'—the complex landscape of managing multiple user identities and their associated risks—with definitive, authoritative data that helps businesses quickly determine the legitimacy of transactions.Zumigo generates revenue primarily through its subscription-based model and partnerships with various enterprises needing identity verification services. Business transactions typically involve clients subscribing to Zumigo’s services, which might include tiered pricing plans based on the volume of verifications required or specific solution features utilized. For instance, clients may engage with flagship products like Zumigo DeRiskify, which offers enhanced authentication capabilities tailored to their operational needs. This engagement structure fosters long-term relationships, as businesses rely on Zumigo to mitigate fraud while improving their onboarding processes for new customers. The company's revenue is directly linked to the utilization of its advanced risk assessment tools, which provide critical insights and support for effective decision-making in identity verification.In August 2014, Zumigo raised USD 6.00 mn in SERIES B financing, which is intended to support the launch of new products and expand into new geographic markets. The company is focused on developing additional features for Zumigo DeRiskify and aims to target new markets in Asia and Europe by 2025. The recent funding is aimed at bolstering their technological infrastructure and enhancing customer engagement strategies to facilitate these initiatives.

## Funding rounds

- Series B, Aug 22, 2014, $6M — Intel Capital, Wells Fargo Bank, Aligned Partners

## Investors

- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series B
- Wells Fargo Bank — Series B
- Aligned Partners (https://capitalatlas.ai/funds/aligned-partners) — Series B