VC-backed Jumio files for bankruptcy, to sell assets to investor Eduardo Saverin

Jumio Inc, an identity management and credentials company based in Palo Alto, California, has commenced voluntary Chapter 11 proceedings in the U.S. The company agreed to sell its assets to Jumio Acquisition LLC, an entity formed by Facebook co-founder Eduardo Saverin, who was an early investor in Jumio. Saverin will also provide Jumio with $3.7 million to support the company’s operations during the sale process. Jumio has previously raised funding from Andreessen Horowitz and others.

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