Growth equity firm Centana Growth Partners agreed on Friday to buy the assets of Jumio, the US-based developer of a digital credentials authentication service, which has filed for bankruptcy.
Jumio had raised more than $35m in funding, including a $3.3m investment made by Citi Ventures, the strategic investment subsidiary of financial services firm Citi, in 2012 as part of a strategic partnership agreement.
Founded in 2009, Jumio had built an online and mobile-focused identity management and credentials service and opened offices in the US and Europe. It filed for bankruptcy in March this year after government investigations into financial irregularities and share sales by the company’s former management team hampered fundraising efforts.
Although the amount paid by Centana has not been disclosed, Jumio said at the time of its bankruptcy filing that it had received a bid of approximately $22.6m by an acquisition vehicle of Facebook co-founder Eduardo Saverin, an investor in the company since 2011.
Jumio’s backers also include venture capital firm Andreessen Horowitz, which led its $25.5m series B round in 2012.