Acuant SaaS and partnerships drive revenue up 30 percent in Q1 2018
Acuant has announced results from a successful Q1 2018, in which the company’s revenue increased by 30 percent from the previous quarter, driven by 196 percent growth in its SaaS business.
During the busy quarter, the company added several global partners, including credit reporting agency Experian, and its commercial relationships grew by 70 percent, according to the announcement. Automotive sector companies Clutch Technologies and Pony Car Sharing both recently signed on as Acuant partners. The company also opened an office in the EU to meet growing demand for its services.
Acuant was a Gold Winner in 2018 Info Security Product Guide’s Global Excellence Awards in the New Product or Service of the Year category for its AssureID with Ozone product, and was also a finalist in the Fortress Cyber Security Awards. The company says it processed more than 50 million transactions during the quarter, and its identity document library has surpassed 6,000 supported ID types.
“We continue to advance our leadership position in the identity verification market,” said Yossi Zekri, CEO of Acuant. “The last two quarters represented the two most profitable quarters in our history. Our SaaS growth is accelerating our transition to a recurring revenue business model that we believe will deliver additional growth and profitability as we continue to execute on building a world-class identity platform.”