PORTLAND, OR--(Marketwire - Aug 23, 2012) - iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that it made this year's Inc. 5000 list of the fastest growing private companies in the U.S. The company secured a spot on the list for the third consecutive year and jumped nearly 2,000 spots from its 2011 ranking. The prestigious Inc. 5000 ranks companies based on revenue growth over the past three years and iovation joined companies like Facebook, CDW, and Levi Strauss to make the list this year.
"We are excited to make the Inc. 5000 again and climb so significantly because it validates the explosive growth we have achieved due to our unique fraud management solutions," said iovation CEO Greg Pierson. "2011 was not only a big year of growth at iovation but also one of significant investment to ensure we can continue to scale and innovate at an increasingly rapid pace."
Inc. recognized iovation as the 20th fastest growing company in Portland, Oregon, the 48th in the security industry and the 2,581st overall. Auditors for the award found iovation's revenue has grown an impressive 93 percent over the last three years.
In 2011, iovation expanded European operations, opened an additional data center, stopped 50 million fraud attempts, and grew its engineering staff by almost 30 percent to address customer growth. The company attributes its business expansion to the popularity of its ReputationManager 360 solution.
ReputationManager 360 analyzes the behavior of nearly 1 billion devices like mobile phones, tablets and computers. By utilizing device reputation intelligence gathered across its network of hundreds of customers and thousands of security pros, iovation determines whether or not a device would be likely to conduct a fraudulent transaction. This unique iovation capability makes it possible to proactively identify devices that are associated with abuse before bad actors can strike.
To see a complete breakdown of iovation's profile on the Inc. 5000, go to www.inc.com/inc5000/profile/iovation. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.
The 2012 Inc. 5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2011. Since then, a number of companies on the list have gone public or been acquired. The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
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 nearly one billion devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.