SheerID Announces Second Consecutive Year of Triple-Digit Revenue Growth and New Executive Hires
SheerID bolsters management team, adds 5 offices to accelerate demand for gated, exclusive offers worldwide.
Portland, OR – February 20, 2019 – SheerID, the market leader in digital verification technology for gated, exclusive offers, today announced that 2018 annual recurring revenue grew by 118%, marking the company’s second consecutive year of triple-digit growth. SheerID added over 35 new customers during the year, including retailers such as American Giant, ASOS, L.L. Bean, Urban Outfitters, and Zappos—more than one third of the top 50 retail brands (source: Internet Retailer top 50) now use SheerID. In addition, SheerID added many new customers in telecom, software and streaming media as subscription businesses seek to improve performance in customer acquisition and drive long-term revenue growth. New customer signings in these sectors include household brands such as: Alibaba, Comcast, Facebook, Grubhub, Headspace, T-mobile, and Youtube.
To help accelerate and manage growth, SheerID has added Simon Pius as its new CFO, responsible for leading SheerID’s financial, accounting and business operations. Prior to SheerID, Simon served as CFO at multiple fast-growth technology companies over the past decade, including cloud security company CipherCloud and notification software provider xMatters. He has also led finance for Product Support Solutions (PSS) and Evant during their acquisitions by Eckoh plc and Manhattan Associates, respectively. Also joining SheerID is Céline Raoul, as VP Sales and Marketing, EMEA. Based in Paris, she will be responsible for expanding SheerID’s customer base and presence throughout Europe, the Middle East, and Africa. Previously, Céline held senior sales positions at a number of high-tech companies, including Conduent, a market leader in digital transaction processing.
SheerID also opened up new offices in New York City, Washington DC, Mexico City, London and Paris to support increased demand for its digital verification platform. Additionally, the company doubled its workforce, adding strategic hires in sales, marketing, product management, and development. These expansion efforts have ensured SheerID’s ability to continue delivering an outstanding customer experience in the face of fast growth, as evidenced by the company’s 2018 Net Promoter Score (NPS) of 72, which is considered “world class” — the highest rating based on the index standards.
Brands are using the SheerID Digital Verification Platform to determine eligibility for their gated offer programs for up to 10 segments, including students, military, and teachers. The SheerID platform has expanded significantly over the past year and can now provide instant verification for 321 million people world-wide, through 8900 authoritative data sources. It allows brands to instantly check a person’s eligibility with their consent, to access the brand’s exclusive offers and personalized experiences.
“Our recent business results reflect our laser focus on enabling brands to create consent-based relationships with their customers,” said Jake Weatherly, CEO of SheerID. “Brands are looking for a fresh approach to reach valuable customer segments in a way that both respects their privacy and provides a highly-personalized offer that recognizes their unique affiliation with a group. Gated offers provide digital marketers with a new way to help them reach their acquisition and revenue goals. We’re excited to bring on two experienced executives who will help further these efforts and continue our rapid market expansion around the world.”
SheerID’s leading digital verification platform instantly verifies the identity of individuals and businesses, enabling enterprises to deliver gated offers and experiences to high-value customer segments while mitigating fraud and minimizing friction. By using authoritative data sources to verify credentials in real-time within an organization’s brand experience, SheerID delivers a seamless customer experience that reduces churn and fuels loyalty to drive revenue growth. As a result, the world’s biggest brands – including Amazon, Lowe’s, Spotify, and T-mobile – rely on SheerID as their trusted verification partner. Founded in 2011, SheerID is backed by Voyager Capital and Centana Growth Partners.