Zumigo Corporation, a leader in mobile device location and identity verification, has closed $6 million in Series B financing led by new investor Intel Capital to expand the company's delivery and development of mobile location intelligence solutions uniquely authenticating and securing mobile commerce.
The existing investors including Aligned Partners also participated in the round. The funding will be used to expand business operations as the company accelerates new product development and customer rollouts to meet growing global demand, including investments in sales and marketing.
According to Zumigo, its solution uniquely authorizes transactions through customer location and identifies the right customer with the right device, using location and network data across all global networks and mobile devices. Zumigo also enables companies to target customers with special offers using geo-location, all with no downloads required on users' mobile devices, said Zumigo.
"In an increasingly connected world, mobile, cloud, security, location and commerce are fundamental to any services strategy. With their best-in-class commerce fraud solution, we see Zumigo as a leader in this space."
- Hank Skorny, Vice President and General Manager of Intel Services
"We are seeing a plethora of new security, financial and other applications that will utilize Zumigo's products. 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."
- Chirag Bakshi, Founder and CEO, Zumigo
