Jumio reports strongest year in company history

Categories Biometrics News  |  Trade Notes

Jumio announced that it surpassed the 100 million online identity verification threshold in the fourth quarter of last year, just 10 months after the company reached the 50 million transactions milestone in February 2017.

In addition, the company reports that annual recurring revenues nearly doubled, increasing 96 percent year-over-year, while sales grew by more than 176 percent over the same period.

“This level of growth validates the importance of AI-powered Trusted Identity as a Service and our unique hybrid approach to online identity verification that combines machine learning, AI, and human review,” said Steve Stuut, CEO of Jumio.

Other highlights from the year include: the hiring of CTO and Chief Scientist Labhesh Patel and Global Head of Marketing Dean Nicolls; launching its global partner program; opening new offices in London, New York and Rajasthan, India; adding new identity verification features to Netverify, and; being named the Frost & Sullivan 2017 North American Entrepreneurial Company of the Year for the Biometric Security Solutions Industry.

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