Record year for biometrics checks by iProov and Veriff
The UK’s biometric face authentication firm iProov has recorded another record year of growth in 2021 as global demand for online identity verification rockets. Estonia’s Veriff also recorded a year of record financing and year-on-year growth across its global customers.
iProov has tripled its revenue in the last year. It claims that in one 10-day period in 2021 the firm’s online biometric verifications surpassed the total number achieved in the whole of 2020. It registered multiple days with more than a million verifications.
It increased its staff by almost two thirds and plans for more growth in 2022.
Highlights include bringing its Genuine Presence Assurance to the Australian Tax Office with customer digital identity verification for myGovID. Jumio has incorporated the verification process into its tools. The firm is also working with Eurostar for (almost) contactless international rail travel from the UK to Europe.
“iProov is giving people access to what is quickly becoming a basic human right: the ability to assert your identity online safely, securely and ubiquitously, with your privacy protected,” says Andrew Bud, founder and CEO, iProov.
Veriff verifications up 800 percent
Veriff’s verification volume in the U.S. has grown 20 times and 8 times globally in 2021 as demand for online verification with selfie biometrics grows. The sharp increase stems from new use cases as well as organic growth with existing customers.
It raised $69 million in capital, bringing its total to $92.3 million so far, achieving the highest series B to date in the identity verification (IDV) market.
The firm has signed deals to bring more trust to the metaverse, gaming and financial services with biometrics. It has increased its staffing by 40 percent globally, including a 120 percent leap in its U.S. headcount. The hiring continues and the company has brought in new C-suite staff this year such as Amish Mody as CFO.
“With the rapid growth of the IDV market in the last year, I have witnessed several organizations sacrifice customer success for rapid short-term wins, but at Veriff we’re taking a different approach,” says Byron Fehler, SVP of Commercial at Veriff.
“We’re focused on long-term, sustainable growth to ensure our customers are able to implement and utilize our technologies in multiple use cases seamlessly.”