Onfido has added itself to the roster of selfie authentication specialists celebrating significant gains in the wake of the COVID-19 pandemic last year.
The company has revealed that its global Annual Recurring Revenue for 2020 increased 82 percent year-over-year, with sales doubling in the United States. Three hundred twenty new clients were added to its portfolio.
Onfido also attracted some prominent ecosystem partners in 2020, including Visa, Salesforce, and Okta, among others. Partner ecosystem sales increased 176 percent year-over-year.
The excitement about Onfido’s solution reflects the broader spike in interest in selfie onboarding solutions during the pandemic. Various organizations’ activities have been pushed into digital channels, prompting the need to rapidly implement reliable and user-friendly authentication and onboarding mechanisms.
“Driven by the global pandemic and the associated shutdowns, digital tools and technologies that enable a touch-free world have enabled us to continue working, shopping, learning, and receiving healthcare,” explained Onfido CEO Mike Tuchen. “Digital identity verification is at the heart of all of these online services. As a result, in 2020 organizations have accelerated their digital transformation initiatives. This unprecedented drive to digital drove the demand for Onfido verification services to record levels.”
Tuchen’s appointment as CEO was announced in November, and was evidently part of a larger hiring trend for Onfido. The company increased its staff by 38 percent year-over-year, bringing the total workforce to over 400 personnel.
February 3, 2021 – by Alex Perala