Global identity verification and authentication provider Onfido has broken its revenue record for the fifth consecutive quarter.
The London-headquartered firm has seen a 100% increase year-over-year in global revenue and also surpassed $100 million in annual recurring revenue.
This strong momentum was driven by over 200% year-over-year sales growth in the US, as well as significant partner program expansions.
These included new engagements with Visa and Amazon in the US and cryptocurrency trading platform Phemex, which joins a growing list of leading crypto partners such as Wirex and LocalBitcoins.
“Our record growth underscores the continued market demand for identity verification and authentication solutions and we’re delivering to meet that demand,” said Mike Tuchen, CEO of Onfido.
“In this thriving digital economy, organizations require strong, flexible security that doesn’t compromise on user experience. Onfido equips organisations with the tools they need to consistently scale to meet these demands – and we’re only getting started.”
In the last quarter, the firm launched Onfido Face Authenticate and Enterprise Encryption, which gives businesses the ability to continuously authenticate their users in a remote setting, without compromising user experience or privacy.