The staff of SheerID at Triangle Lake in 2014.

Verification is on the rise

Posted on Oct 2, 2015 · 2 min read

It’s becoming clear that a growing number of businesses are interested in verification technology, especially in the retail and ticketing industries. The number of Fortune 500 companies requiring some form of verification from customers redeeming exclusive offers online has skyrocketed in the past year.

Here at SheerID, we’ve definitely noticed the growing trend. This back-to-school season, we verified 4x more consumers than we did in 2014. Best Buy, DIRECTV, and Newegg all signed on this year so that they could offer exclusive deals to college students this fall.

Around Memorial Day, we saw a sharp increase in the number of consumers we verified so that they could take advantage of Memorial Day Deals from our clients that were only available to the military community, and we’re expecting big things around Veterans Day this year!

As awareness is growing around the benefits of verification, the industry is taking off, and we’re proud to be at the forefront of eligibility verification innovation. This week we were thrilled to announce that we raised $5.3 million in venture capital so that we can continue to expand and improve our verification services. We can’t wait to use some of the capital to grow the SheerID team, and we hope to introduce you to some new SheerID employees very soon!

Angela Modzelewski by Angela Modzelewski