Onfido grows revenue over 100% year-over-year and reaches more than $100M ARR

We’re thrilled to announce that our portfolio company, Onfido, the global identity verification, and authentication provider, recently announced it had broken its revenue record for the fifth consecutive quarter, with an over 100% increase year-over-year in global revenue ending Q2 2021. The company also surpassed $100M in annual recurring revenue.

According to the announcement, “This strong momentum was driven by over 200% year-over-year sales growth in the U.S., as well as significant partner program expansions. These included new engagements with Visa and Amazon in the U.S. and cryptocurrency trading platform Phemex, which joins a growing list of leading crypto partners such as Wirex and LocalBitcoins.

Mike Tuchen, CEO of Onfido, stated, “Our record growth underscores the continued market demand for identity verification and authentication solutions and we’re delivering to meet that demand.” “In this thriving digital economy, organizations require strong, flexible security that doesn’t compromise on user experience. Onfido equips organizations with the tools they need to consistently scale to meet these demands – and we’re only getting started.”

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Source: Onfido