Records 2,443% Revenue Growth with Innovative AI-Powered Identity Verification Technology
SEATTLE, WA – November 19, 2024 – Vouched, the leader in AI-powered identity verification for critical industries, today announced it placed 2nd in the Northeast on the Deloitte Technology Fast 500™, a prestigious ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. The news underscores Vouched’s significant market expansion and technological innovation, having recently placed 141st in the Inc. 5000 awards earlier this year, after boasting an impressive 2,443% revenue growth from 2020 to 2023.
"Being recognized in the Deloitte Technology Fast 500™ highlights our unwavering dedication to transforming identity verification with advanced AI," said Peter Horadan, CEO of Vouched. "This recognition affirms our strategy of providing innovative, secure, and user-friendly solutions that tackle essential challenges for businesses across industries."
In July 2024, Vouched achieved a notable milestone by verifying over 20 million identities, demonstrating the platform's robust capabilities and widespread adoption. The company's proprietary AI technology utilizes deep-learning models to detect and classify identity documents with over 99% accuracy in fraud detection, setting a high standard in the industry. Over the last four years, Vouched's platform has delivered transformative results for clients in many different industries. Telehealth providers have experienced a 2-3x boost in patient onboarding rates, while Riders Share, a motorcycle-sharing service, significantly reduced fraud-related losses from over $1 million to nearly zero incidents of theft and fraudulent activities.
"For 30 years, the Deloitte Technology Fast 500 has celebrated companies driving innovation," said Steve Fineberg, vice chair and U.S. technology sector leader at Deloitte. "This year's list, particularly in the fintech sector, showcases remarkable private company performance and technological advancement."
The 2024 Technology Fast 500 companies achieved revenue growth ranging from 201% to 153,625% over a three-year period, with an average growth rate of 1,981% and a median growth rate of 460%. Vouched's 2,443% growth significantly outpaces these benchmarks, highlighting the company's exceptional market position.
About Vouched
Vouched's AI-powered identity verification (IDV) solution enables businesses to authenticate individuals with ease and meet critical regulatory requirements. The platform's real-time decisioning engine delivers the fastest and most reliable responses in the industry. Utilizing proprietary AI models and extensive data verification processes, Vouched maintains one of the highest fraud detection rates, exceeding 99%. The platform's advanced liveness and document verification techniques continuously adapt to new forms of identification worldwide, enhancing its fraud detection efficacy.
Based in Seattle, Vouched is privately held and backed by Madrona Venture Labs, Ascend Ventures, Flying Fish VC, BHG VC, SpringRock Ventures, and SeaChange Ventures. For more information, visit Vouched.id and follow us on LinkedIn.
About the 2024 Deloitte Technology Fast 500
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
Media Contact:
Lizzy Harris
PR for Vouched
Vouched@colabcomms.co
Originally published on Business Wire. For more details, visit the source.