Acuant Reports YOY Revenue and Profitability at Record Highs Since AssureTec Acquisition
September 12, 2017
SaaS revenue grows more than 90%, led by Machine Learning Powered ID Verification Product Offerings
LOS ANGELES, Sept. 12, 2017 /PRNewswire/ — Acuant, a leading provider of data capture and ID authentication solutions, announced record revenue and profitability, powering more than one billion partner transactions worldwide since its acquisition of AssureTec in June 2016, monthly processing ID’s from all 50 US States, all Canadian Provinces and from 196 countries. SaaS revenue increased in excess of 90% this past year, which has helped achieve almost a doubling of its respective percent of overall business.
“Post a successful integration of AssureTec, we continue to focus on empowering businesses and consumers in today’s digital economy to transact with trust, and together with our growing base of partners to introduce faster, more secure and more user-friendly identity verification solutions,” said Yossi Zekri, CEO of Acuant.
With three intelligent engineering centers located in California, New Hampshire and Israel, Acuant offers flexible and scalable solutions for image processing and authentication on cloud and mobile platforms. Adding FRM, biometric facial recognition match with image spoofing detection, and DocX, real time manual identity document review, to further expand its AssureID product continuum, Acuant provides the highest level of accuracy for identity proofing that allows businesses to validate more good customers, creating trust and loyalty, while preventing fraudulent transactions. In today’s world of prevalent data breaches, Acuant offers ID verification products that allow institutions to establish trusted identities without needing to access compromised data and without hassle to customers.
Powered by machine learning, AssureID is approaching 150 million transactions annually and is positioned to grow that number aggressively with mobile, cloud and on-premise solutions, while AcuFill, the company’s extraction and data fill product line, is closing in on 40 million transactions every month.
Since the acquisition, Acuant’s core authentication business has grown to include 20 large government deployments and they have added more than 50 partners which range from large systems integrators to spot solutions designed for industries such as financial services, healthcare and the sharing economy.
Stephen Maloney, Acuant’s EVP Business Development and Strategy, states, “Moving forward, our product continuum will further embrace the convergence of physical and digital identity especially as it relates to identity proofing, and continue to transform our industry.”
Acuant Inc. is a global technology company that provides comprehensive Identity Verification solutions responding to various levels of risk and assurance requirements. Utilizing patented technology Acuant transforms data intake into a business-enhancing proposition while instantly reducing the risk of fraudulent transactions.
Acuant’s intelligent engineering is made to work in any industry in any environment with compatibility for Windows, iOS, Android, Hybrid and HTML 5- and built to allow meeting the highest level security requirements and regulations such as KYC, PII, HIPAA and AML. Partners include start-ups, Fortune 500 and FTSE 350 organizations.
For more information, please visit acuant.com
Lumina Communications for Acuant Corp