PORTLAND, Ore. – February 27, 2008 – iovation, the device reputation authority for the Internet, today announced two new executive appointments. Chris Reid and Emmett Zahn have joined iovation as vice president of sales and vice president of technology, respectively. Both positions support the company's core technology and sales growth initiatives.
"We are extremely excited to have two seasoned executives like Chris and Emmett join iovation's senior management team," said Greg Pierson, CEO of iovation. "Behind their proven business leadership and vast knowledge and expertise in software sales and risk management, we are confident that they will make significant contributions that drive new business and develop our device-based fraud management technology to help us meet our future business goals."
As vice president of sales at iovation, Chris Reid is responsible for all aspects of iovation's sales organization, including inside and outside sales, and sales engineering. Reid's 20 years of software sales and sales management experience includes building and managing both inside and field sales teams for technology companies. Prior to iovation, Reid led a sales team that grew Visual Sciences' business revenues from $15 million to over $100 million with 16 straight quarters of double-digit growth. During his tenure at Merant, a global e-business software services company, Reid led a sales organization in revenue growth from $50 to over $250 million, effectively leveraging the rapid shift of the market to Internet-related outsourcing.
"iovation is at the forefront of the online fraud management industry and I am very proud to be a part of this highly innovative team," said Reid. "What they've accomplished in a relatively short period of time is a testament to the unique technology, outstanding leadership, and the support and commitment of every employee. I look forward to leading iovation through a similar revenue ramp that exceeds the company's sales growth objectives."
Emmett Zahn has over 30 years of extensive technology experience. As vice president of technology at iovation, Zahn is responsible for every aspect of the company's product development organization including technology strategy, engineering, QA, and technical infrastructure. Prior to joining iovation, Emmett was group vice president of US Software Services at TransUnion, where he was responsible for credit reporting, decisioning, event-detection notification and risk management applications for core product delivery platforms. He has been an executive and key contributor in two organizations that grew from under $10 million to over $400 million in revenue. He has also been responsible for systems that process real-time transactions on 90 billion record databases and has architected systems processing over 100,000 transactions per second in real-time financial trading environments.
"As online businesses rely more and more on risk management tools to protect their sites and increase business profits, iovation is the company many turn to for device reputation fraud management solutions," said Zahn. "iovation's innovative technology helps online companies stop tens of thousands of fraudulent transactions each day, while protecting the privacy and anonymity of their customers. I look forward to developing iovation's device recognition capabilities and reputation services to enhance our customers' ability to stop online fraud and abuse and provide them with greater business value."
iovation uses patented device-based fraud management technology to help online retailers, financial services, Internet gaming and online social networking sites stop over 10,000 fraudulent transactions per day. iovation's real-time ReputationManager™ service uniquely identifies computers that have been used for fraud and abuse and creates a web of association that provides fraud managers with deeper insight into account and device relationships that exist within their network and among their industry peers. Customers sharing iovation's robust network of device reputation intelligence have dramatically reduced the amount of fraud and abuse that occurs on their sites while increasing operational efficiencies and business revenues through more precise risk management.
iovation, headquartered in Portland, Oregon pioneered the use of device reputation for managing online fraud, abusive behavior and multi-factor authentication. Today, iovation manages the reputation of millions of Internet-enabled devices worldwide, allowing its customers to control online fraud and abuse while benefiting from sharing device reputation intelligence. For more information on iovation and the company's products, visit www.iovation.com.