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Andreessen Horowitz leads $25.5m financing for web ID company Jumio

7 Mar 2012

Silicon Valley venture capital firm Andreessen Horowitz (AH) has led a $25.5m financing round for webcam identity software provider Jumio.

The company says its Netswipe programme can turn any webcam into a secure credit card reader, allowing sellers to easily accept fast payments over the Internet.

AH has grown with remarkable speed since it was founded in 2009, raising a total of $2.7bn to invest in early-stage tech companies.

The company, which was formed by Netscape co-founder Marc Andreessen and former Opsware chief executive Ben Horowitz, announced last month it had raised two new funds totalling $1.5bn – one of the largest fundraisings in venture capital history.

General partner Scott Weiss joined Jumio’s board of directors as part of the Series B financing deal.

Jumio has raised a total of $32m since being founded by Daniel Mattes in 2010, including investments from Facebook co-founder Eduardo Saverin and founder Peng Ong.

Weiss said, “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.”

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