Jumio Reports Considerable Growth with TIaaS Platform

“The company says that its platform has now been used to verify over 50 million identities, and that it ended the 2016 fiscal year with 49 percent year-over-year growth and a 44 percent increase in year-over-year annual recurring revenues.”

JumioJumio Reports Considerable Growth with TIaaS Platform is reporting considerable growth with its Netverify Trusted Identity as a Service platform, with Jumio CEO Stephen Stuut asserting in a statement that Jumio is “outperforming in one day what the closest competition does in a year.”

The company says that its platform has now been used to verify over 50 million identities, and that it ended the 2016 fiscal year with 49 percent year-over-year growth and a 44 percent increase in year-over-year annual recurring revenues. Jumio also says that three of the top 10 American “unicorn companies” with revenues exceeding $5 billion are its clients.

Some of this excitement over Jumio’s platform could be attributed to its use of biometric identity verification, with Netverify getting facial recognition toward the end of last October. Looking ahead, the company could reasonably look forward to further growth, with a document reading capability having just been added to the TIaaS platform earlier this month.