TechCrunch
Mobile device and location verification service Zumigo closed a Series B funding round led by Intel Capital on Friday, reporting it raised $6 million. Zumigo wants to take the password out of the authentication process. Using the location of your phone, Zumigo can identify whether you’ve made a financial transaction based on the proximity of your phone to the source of the exchange.
The funding news comes as the company begins participating in the Wells Fargo Startup Accelerator program. Existing investors, including Aligned Partners, also participated in the round. In previous funding rounds, Zumigo raised a total of about $1.4 million.
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