NEW YORK, Dec. 16, 2021
2021 ushered in record financing and year-over-year growth across global customers, hiring, and partnerships
NEW YORK, Dec. 16, 2021 /PRNewswire/ -- Veriff, a global identity verification provider, today announced significant momentum following an impressive 20x increase in verification volumes from the U.S in 2021. The growth derives from companies with a global user base as the demand for stronger ways to verify identity online continues to grow. This year's growth was driven by emerging use cases as well as organic growth with existing customers.
The Global Identity Verification Market is expected to reach $21.9 billion by 2026, rising at a market growth rate of 37% each year according to Market Research Future.
"Identity verification goes far beyond just meeting KYC and AML regulations, it's relevant for every business to operate and succeed online. As tech companies operate globally, they also need global ID verification capabilities. This is where Veriff holding the leading position and supporting more than 10,000 government issued IDs from over 190 countries enables businesses to scale globally," said Kaarel Kotkas, founder and CEO of Veriff.
In 2021, the company also signed several gaming sector partnership agreements to verify users' age and bring more trust and safety to the Metaverse. In addition to the growth in the gaming sector, Veriff increased verification volumes by 10X in the financial services sector in 2021 and is now the primary identity verification provider for 95 percent of its financial services customers.
Veriff continues to build its team and customer base to serve the growing need for reliable IDV solutions among global customers, with hypergrowth in the U.S. market. Key 2021 momentum data points include:
"With the rapid growth of the IDV market in the last year, I have witnessed several organizations sacrifice customer success for rapid short-term wins, but at Veriff we're taking a different approach," said Byron Fehler, SVP of Commercial at Veriff. "We're focused on long-term, sustainable growth to ensure our customers are able to implement and utilize our technologies in multiple use cases seamlessly. I'm thrilled to be a part of the team of trusted experts for our customers at Veriff."
For more information on Veriff, please visit our website.
Veriff is a global online identity verification company that enables organizations to build trust with their customers through intelligent, accurate, and automated online IDV. Veriff's intelligent decision engine can analyze thousands of technological and behavioral variables in seconds, matching people to more than 10,000 government-issued IDs from over 190 countries. Founded in 2015, Veriff serves a global portfolio of organizations across fintech, crypto, and mobility sectors including customers like Blockchain, Bolt, Deel, Starship, Wise and many others. Veriff has raised $92.8M to date from investors including Y Combinator, Mosaic Ventures, Nordic Ninja, Accel, IVP and others. With offices in the U.S., UK and Estonia, Veriff has a team of more than 360 people from 42 different nationalities. For more, visit www.veriff.com