Stephen Stuut

Before Jumio, he served as a CEO of a company called True Position, a leader in location-based services technology.

Prior to that, he was president and CEO of Broadband Innovations, delivering digital interactivity services to cable TV providers.

During his tenure, he raised over $30 million in equity from venture capital firms and strategic investors and ultimately sold the company to Motorola in December of 2005.

Stephen, are you ready to take us to the top?

I am ready to go.

Very good.

So tell us what Jumio does and what's the business model?

How do you make money?

All right.

We're a software as a service.

Particularly, we do trusted identity as a service.

So, we do three things in that.

ID verification, identity verification, and document verification.

It boils down to, with an ID verification, you take an image of your ID, passport, driver's license, use your laptop, use your phone, upload it.

We don't care.

We will then validate that it is not fraudulent.

And then if you do identity verification, we do a biometric facial comparison of your selfie with your device and the image of your face on the ID to say that you have a perfectly valid ID.

Are you the same human or did you steal it?

Yeah.

And then finally, we do a document verification, which for a lot of know-your-customer regulations is things like a utility bill or a bank statement.