Jumio grows sales 70 percent in 2018
06 February 2019 17:39 GMT

AI-powered trusted identity as a service provider Jumio has announced that its 2018 customer count grew 60 percent and sales grew 70 percent year-over-year.

“2018 was a tremendous year for Jumio and it’s been fueled by a number of factors including a steady barrage of high-profile data breaches, dwindling confidence in traditional forms of verification including two-factor authentication and knowledge-based authentication, and our expansion into Asia Pacific,” said Stephen Stuut, CEO of Jumio. “There is also a direct connection between a successful 2018 and Jumio’s continued investment in AI, machine learning and augmented intelligence — we were able to improve our own identity verification offerings and make them faster and even more accurate.”

Driven by continued demand for online identity verification, Jumio also celebrated the following 2018 achievements:

150 Million Identities Verified: In 2018, Jumio surpassed the 150 millions identities verified benchmark, representing 67 percent growth from the 90 million verifications performed over the entire life of Jumio. It took Jumio less than one year to amass 50 million online identity verifications, as the company surpassed the 100-million mark in Q4 2017. 

Jumio recently announced the addition of FaceTec’s ZoOm® 3D Face Liveness Detection to its online identity verification suite. This adoption improves the security, speed and user experience for liveness detection of new users, providing an additional layer of assurance and fraud prevention for digital businesses during the account creation process.

Montreal-based Jumio AI Labs launched in September 2018, dedicated to the creation, experimentation and at-scale deployment of machine learning and deep learning technologies. This new office in Canada expands upon the innovation driven by Jumio’s Vienna-based AI team by building production models that perform data extraction, fraud detection and risk scoring — three vital functions that improved the speed and accuracy of Jumio’s online identity verification solutions.

In Q2, Jumio hired several new executives to further strengthen its leadership team and support its aggressive growth objectives, including: Labhesh Patel, CTO & Chief Scientist, Miles Hutchinson, Chief Information Security Officer; Mike O’Callaghan, Vice President Global Operations; and Amy Treadwell, Global Vice President of People and Culture. Together, these new hires bring decades of leadership experience in high-growth SaaS and technology organizations.

Asia Pacific Expansion: Jumio hired Frederic Ho as Vice President of Asia Pacific and launched its new Singapore sales office to serve the growing demand for the region’s online digital identity verification services to help banks, financial services and online gambling companies efficiently comply with AML and KYC regulations. Jumio saw its Asia Pacific sales grow significantly, quarter-over-quarter, and signed two of the largest deals in the company’s history as a result of having a dedicated regional focus.

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