Acuant Achieves Unprecedented Growth and Record SaaS Revenue
May 1, 2018
Acuant posted 196 percent growth in SaaS solutions with 30 percent total revenue growth quarter-over-quarter
LOS ANGELES, May 1, 2018 — Acuant, a global provider of identity verification solutions, today announced that Q1 2018 was the largest quarter in company history. Quarter-over-quarter revenue growth of 30 percent was driven in large part by SaaS solutions, which posted 196 percent growth.
Commercial relationships grew over 70 percent for the same period. Acuant added several premier global partners including top credit reporting agency Experian, as well as a top-tier global payments company and the leading healthcare diagnostics company. To meet growing demand, Acuant expanded its presence by adding an EU office.
“We continue to advance our leadership position in the identity verification market,” said Yossi Zekri, CEO of Acuant. “The last two quarters represented the two most profitable quarters in our history. Our SaaS growth is accelerating our transition to a recurring revenue business model that we believe will deliver additional growth and profitability as we continue to execute on building a world-class identity platform.”
Acuant processed more than 50 million transactions in Q1 2018. In March alone customer experience data, measured in millions of non-PII transactions, was generated by over 90 percent of the nations in the world. The company boasts the largest identity document library with more than 6,000 ID types and adds hundreds of new global documents each year.
Acuant’s AssureID with Ozone product was named a Gold Winner in the New Product or Service of the Year category for the 2018 Info Security Product Guide’s Global Excellence Awards. These prestigious global awards recognize cybersecurity and IT vendors that set the bar in all areas of security and technologies. Acuant was also named a finalist in the Fortress Cyber Security Awards.
Acuant is an identity verification platform that instantly reduces fraud while providing seamless customer experiences. Solutions include intelligent data capture and auto-fill software, identity document authentication, chip and ePassport authentication with PKI, facial recognition software and expert manual review of documents. Human assisted machine learning powers the largest ID library processing 196+ countries monthly and having completed more than 3 billion transactions worldwide. Acuant mitigates risk and meets regulatory requirements such as KYC and AML, while protecting PII. Partners include start-ups, Fortune 500 and FTSE 350 organizations in all industries. For more information, please visit acuant.com