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iovation Named One of Fastest Growing Portland Area Private CompaniesOnline Fraud Mitigation Authority's Rapid Expansion Lands It on Portland Business Journal's List for Second Straight Year (June 22, 2012)
PORTLAND, OR -- (Marketwire) -- 06/22/12 -- iovation, the Device Reputation Authority protecting online businesses from fraud and abuse, today announced that it made the Portland Business Journal's Fastest Growing Private 100 Companies Award list for the second straight year. The award is a ranking of the fastest growing privately held Portland, Oregon area companies and is based on revenue growth over the past three years.
"This award further validates what we've witnessed internally at iovation -- the increased need for a solution that evaluates risky online transactions based on device association with fraudulent activities," said Jon Karl, Vice President of Corporate Development at iovation. "We are delighted to make the Portland Business Journal's list for the second straight year and we are confident we'll continue our strong growth trajectory as we expand into new markets and industries."
In 2011, iovation stopped 50 million fraud attempts, expanded European operations, opened an additional data center, and grew its engineering staff by almost 30 percent to address its growth in customers. The company attributes its business expansion to the success of its ReputationManager 360 solution. Today, ReputationManager 360 analyzes the behavior of about 950 million devices like mobile phones, tablets and computers, and determines whether or not the consumer behind a device would be likely to conduct a fraudulent transaction. In 2011, the number of devices ReputationManager 360 tracked jumped about 32 percent from 600 million to 800 million.
To see photos from the Portland Business Journal awards, go to www.facebook.com/iovation.
About The Portland Business Top 100 Award
The Portland Business Journal Fastest Growing Private 100 Award is an annually generated list of privately held companies whose growth represents the best in the Portland, Oregon region. The publication ranks companies by their percentage growth in revenue over the past three calendar years. To be eligible, companies must have recorded at least $250,000 in annual revenue in 2009, but only the top 100 made the list of the Fastest Growing Private Companies.
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation's database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation's knowledge base of 950 million devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.
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