Veridium Closes Third Quarter with Record Number of MFA Deployments WorldwideVeridium Author | October 10, 2018
Company continues to accelerate growth after closing $16.5 million Series B funding in July by addressing business pain points around strong authentication
QUINCY, Mass. – October 10, 2018 – Veridium, a leading developer of user-centric authentication solutions, today announced record-breaking third quarter results highlighted by wins, key hires, industry awards and office expansions in the U.S. and U.K. The company’s multi factor authentication (MFA) platform provides single-step convenience by linking your biometrics (what you are) and your phone (what you have) as a means of password-free, frictionless login to consumer and business applications. In Q3, a growing number of businesses worldwide turned to Veridium to effectively eliminate the need for passwords, tokens or PINs, and deliver MFA security with single step convenience on any device.
Veridium’s industry momentum provides further validation that its digital identity technologies are disrupting the MFA market. Milestones achieved in Q3 include:
- 16 new deployments worldwide, including seven in Mexico, four in Peru, as well as deployments in Costa Rica, Ecuador, South Africa, Germany and Southeast Asia.
- Notable customer wins in banking, retail, lending, telco and government services to address challenges (like KYC verification and digital onboarding), as well as a partnership with a leading global IT and business solutions service provider to bring MFA to their client engagements in banking and retail.
- Expanded offices in the U.S., the U.K., and Romania to accommodate rapid growth, including ten new strategic hires in sales, marketing, and product development in Boston and London.
Growing Industry Recognition
During Q3, Veridium continued to build upon a growing list of industry accolades, including being named to BostInno’s “50 on Fire” list and winning Cyber Defense Magazine’s global award in the biometrics category. Additionally, Gartner cited Veridium as a Sample Vendor for biometric authentication within six different Gartner Hype Cycle Reports in July: Hype Cycle for Identity and Access Management Technologies, 2018, Hype Cycle for IT in GCC, 2018 , Hype Cycle for Digital Banking Transformation, 2018, Hype Cycle for Endpoint and Enterprise Wearable Computing, 2018, Hype Cycle for Mobile Device Technologies, 2018, Hype Cycle for Human-Machine Interface, 2018, as well as in the September report: Active Directory: The Time to Modernize Is Now.
Veridium’s software-only MFA solution links individuals and their devices to their digital identities, making it a more convenient and secure authentication method. The technology allows organizations to easily embed biometrics – including face, fingerprint, 4 Fingers TouchlessID and behavioral – into their digital environments for increased security, improved user experience, all the while reducing fraud at a lower total cost of ownership than traditional MFA solutions.
“Businesses are recognizing the need to secure their most critical assets with authentication technology that is easy, fast, and secure all whilst reducing cost,” said James Stickland, CEO, Veridium. “At Veridium, we are providing an unmatched, one-of-a-kind approach to authentication for our customers – multi factor security for their digital identities with single-step convenience.”
For more information on the VeridiumID platform and its biometric authentication capabilities, please visit https://www.veridiumid.com/biometric-authentication/
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Veridium is a leader in the development of user-centric authentication solutions which link biometrics (what you are) and with smart phones (what you have) as a means for password-free, frictionless login to consumer and business applications. Its multi factor authentication (MFA) platform can eliminate the need for passwords, tokens, or PINs – delivering MFA security with single step convenience at a lower total cost of ownership than traditional MFA solutions. Veridium has offices in the U.S., the U.K., and Romania. For additional information, please visit www.veridiumID.com.