SOURCE: Jumio Corp.

Jumio Corp.

October 24, 2016 09:00 ET

Jumio Continues to Outpace the Market with Record Q3 Performance Results

Leading ID Verification Company Delivers Explosive Growth, Innovative Solutions and Proven Customer Success

PALO ALTO, CA and LONDON, UNITED KINGDOM--(Marketwired - Oct 24, 2016) - Jumio, the leading digital ID verification company, announces another momentous quarter ending Q3 2016, with a 47 percent growth in annual recurring revenue (ARR) year-over-year. Jumio customer base continues to expand, naming 5 of the top Fortune 50 as customers. In addition, Jumio continued its expansion into Asia-Pacific by breaking into three new markets with top-tier enterprise customers headquartered in those regions. From financial clients and gamers, to travelers and shoppers, IDs across the board are at risk. Jumio continues to be well-positioned to meet the growing demand for innovative solutions that address these challenges and enable businesses to succeed in an expanding digital world.

Paramount to Jumio's record results is its ability to set the pace for ID verification solutions including the launch of the biometric facial recognition. The latest enhancement to its flagship product Netverify®, ensures the actual identity of an individual. Combined with Face Match, biometric facial recognition provides validation of the ID document and KYC compliance to ensure that the person in possession of the document matches the document and also has "liveness."

"Jumio continues its trend of unprecedented growth -- a testament to the health of the company and the market," said Stephen Stuut, CEO, Jumio. "The surge in mobile usage is having a huge impact on businesses, fueling the demand for ID verification solutions that provide a better and more secure customer experience. With the addition of biometric facial recognition we are advancing the industry forward, enabling our customers to meet the challenging business requirements of this rapidly expanding and evolving market."

Jumio continues this momentum to staff globally to support the record demand for its products and services and in Q3 it also reached an all-time headcount high.

Read the latest announcement on Biometric Facial Recognition

About Jumio

Jumio delivers the next-generation in digital ID verification, enabling businesses to reduce fraud and increase revenue while providing a fast, seamless customer experience. Jumio uses computer vision technology to verify credentials issued by over 200 countries in real time web and mobile transactions. Jumio's solutions are used by leading companies in the financial services, sharing economy, retail, travel and online gaming sectors. Funded by Centana Growth Partners and based in Palo Alto, California, Jumio operates globally, with offices in the US and Europe, and has been the recipient of numerous awards for innovation.

For more information please visit www.jumio.com.