Jumio Q3 Sales Up 411 Percent Year-Over-Year

Jumio’s Q3 sales are up 411 percent year-over-year, the company says.Jumio Q3 Sales Up 411 Percent YOY

The figure points to remarkable growth for the company and its Netverify biometric identity verification platform, with Jumio having reported an 87 percent jump in year-over-year sales for Q2. And the company says the average size of its deals has more than tripled over the past year.

In a statement announcing its latest success, Jumio attributed the growth to “increased sales in the financial services space and growing demand within the bitcoin market,” with the latter seeing particular interest from cryptocurrency exchanges and organizations issuing Initial Coin Offerings. The company reports that its solution is now being used to support five of the top 10 cryptocurrency exchanges.

Certain key developments in the third quarter seem to have helped things along. One is that Jumio added liveness detection to its platform, complementing its facial recognition capability with eyeball tracking in order to verify that a live user is present – a move that helps to address concerns around potential spoofing of biometric systems. Another important development is the company’s introduction of Chinese characters to Netverify, helping to drive expansion in that enormous market.

Jumio has been showcasing its Netverify solution at this week’s Money20/20 event in Las Vegas, which concludes today.