Zumigo Nets $6 Million Funding Round
Aug. 25, 2014
Silicon Valley startup Zumigo on Friday revealed it has secured a new round of funding totaling $6 million. The San Jose, Calif.-based company provides mobile device location and identity verification technology to financial institutions. The Series B cash infusion was led by Intel Capital with participation from existing investors including Aligned Partners. Earlier in the week, Zumigo said it has been chosen by Wells Fargo to participate in the bank’s new “Startup Accelerator,” which will provide business planning and expertise as well as direct investment, in several startups.
“We are seeing a plethora of new security, financial and other applications that will utilize Zumigo’s products,” said Zumigo Founder and CEO Chirag Bakshi. “This new financing validates our direction and success, and will accelerate growth in our core business of providing mobile location and identity products to financial organizations and enterprises alike.”