Significant revenue growth, continued US expansion with Aviata acquisition and key executive hires, point to continued momentum for identity verification leader.
Onfido, today announced a year-over-year growth of 130%. The significant revenue growth, coupled with its first US acquisition, key leadership appointments and sustained industry recognition, signal continued scale and growth for the company as it focuses on widening access to digital services in 2020.
The company made significant moves over the last quarter to accelerate its presence in the enterprise market, attaining SOC-2 compliance, partnering with the leading provider of digital identity, ForgeRock and acquiring US systems integrator, Aviata.
Continuing its ramp in the US, Onfido grew its workforce by 60% y-o-y, basing more senior hires in North America, in line with its growing customer base. Moreover, with a 70% trial win-rate, 7 out of every 10 prospects that run a trial to compare Onfido’s performance with others, choose Onfido.
“2020 is set to be one of our strongest years yet, as we continue to grow our global presence, attract key talent and roll out Digital Access as a Service to enterprises,” said Husayn Kassai, CEO and co-founder of Onfido. “We’re also actively preparing for the future, with many of our engagements around reusable online identities entering their next phase of development, putting consumers in control of their legal identity and widening digital access to much needed online services.”
Recent highlights include:
Expansion
- Aviata Acquisition - specialists in developing custom code for Fortune 1000 companies such as Adobe, Cisco, and Dell; Aviata will help accelerate onboarding for Onfido’s enterprise clients and support Onfido’s US production environment.
- Eastern Europe Expansion - Onfido’s partnership with Entify, a leading one-click legal entity verification solution, makes it the 5th company to partner with Onfido in Estonia.
- Employee Growth - Onfido expanded its London headquarters with a major expansion project, and added 50 new staff in the last quarter alone bringing its total team members to 340.
Key Hires
- Robert Humphrey, Chief Marketing Officer (based in San Francisco) - having held chief marketing roles at SecureAuth, and ForgeRock, Robert brings a wealth of experience in growing brand recognition for today’s leading security and identity companies. At Onfido, he will be responsible for overseeing and executing Onfido’s global go-to-market strategy.
- Jim Wangler, Vice President of Sales Americas (based in Chicago) - having led and been part of world-class sales teams at SecureAuth, MuleSoft and IBM, Jim will be responsible for growing and managing Onfido’s revenue in North America.
- Rick Hofmann, Vice President, Partnerships & Alliances (based in New York) - formerly Vice President of worldwide channels strategy for PKWARE and Snr. Director of Symantec’s $1.1B commercial reseller organization, Rick will be responsible for Onfido’s alliance strategy and driving revenue through global partnerships.
- Mark Thomson, Vice President, Customer Success (based in London) - having held senior customer success roles as Regional Director at Infor, EMEA Head of Services at Vitria Technology and EMEA Vice President of Services at BroadVision, Mark will be responsible for customer experience and delivering business outcomes.
- Mickey Martin, Solutions Engineer Lead (based in Orlando) - having led and been part of world-class teams at Transmit Security, ForgeRock, Oracle and HP Enterprise Services, Mickey will be responsible for driving technical field sales strategy and positioning across Global Growth Sales Engineering.
Business Wins / Partnerships
- ForgeRock - strategic partnership to integrate Onfido’s combined Digital Registration, Identity Verification and Authentication solutions to ForgeRock’s CIAM platform.
- Ubisecure - partnership with Ubisecure, a digital identity solutions leader to enable Onfido's identity verification technology for Ubisecure customers' digital identity solutions.
- Bunq - renewed contract with leading EU challenger bank to power its customer onboarding and expanded its implementation to include user re-authentication for account lockouts.
- b-Sharpe - signed leading Swiss company in online currency exchange, to provide a better onboarding experience to its users when verifying identities on its platform.
- SOC 2 Type 2 - achieved certification involving a deep-dive 3rd party audit on how the company safeguards customer data, ensuring it meets the highest industry standards.
- World Economic Forum - contributed to a number of whitepapers, including how innovative approaches to digital identity can unlock business value and our passwordless future.
- Faroe Islands Digitization Program - first government partnership for verifying citizens obtaining a Faroese eID, providing simple access to banking and government services.
- Agora - widening access involves enabling more people to vote. Onfido partnered with leading e-voting provider, Agora to make secure and robust online voting a reality.
Recognition
- FinTech 50 - recognized as #1 tech innovator by FinTech50, Onfido was selected from over 2,000 fintechs across Europe by experts from Standard Chartered, UBS, Mastercard, Barclays, HSBC, J.P. Morgan, ING, and Stripe.
- Deloitte’s Technology Fast 50 - ranked 6th in the FinTech sector and 10th overall in this exclusive list of fastest growing companies with a four-year growth rate of 2,855%.
- Business Insider, Tech 100 - Onfido’s founders are recognized as the 18th most important and influential people in tech, building the next AI Unicorn.
- Sunday Times TechTrack - Onfido was placed 8th on this list of the 100 fastest growing tech companies, with an average 3-year growth rate of 209.15%.
- Juniper Research’s, FinTech Mover and Shaker of the Year - awarded to Husayn Kassai, Onfido’s CEO and co-founder, as a primary decision-maker at the heart of the identity ecosystem.
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