PORTLAND, Ore. – June 24, 2011 – iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that it has received the rank of 48th on the Portland Business Journal’s 2011 list of Top 100 fastest growing privately held companies. iovation’s Vice President of Corporate Development and Co-Founder, Jon Karl, accepted the award on June 23rd at a sold-out awards ceremony at the Portland Art Museum.
iovation attributes their position on this year’s list to the hard work and dedication of its rapidly growing team. Those employees have helped the company achieve a 96% customer retention rate by providing outstanding customer service and industry-leading fraud and abuse protection solutions for online businesses. With the ever-increasing need to secure ecommerce for consumers, iovation is deployed within many of the largest online businesses around the world and now plays a key role in helping to make the Internet a safer place.
“We are proud to be a new entrant to the Portland Business Journal’s Top 100 list and look forward to being a regular member of this outstanding group of companies. We fully intend to move up the list in the coming years as our growth continues to accelerate,” said Doug Shafer, CFO at iovation Inc. “We are very excited about the growth opportunities in all of the key vertical markets that we serve across the globe.”
For the Portland Business Journal list, companies were ranked by percentage of revenue growth over a three-year time frame, from 2008 through 2010. To be eligible, companies must have recorded at least $250,000 in annual revenue in 2008, but only the top 100 made the list of Fastest Growing Private Companies.
About The Portland Business Top 100 Awards
The Portland Business Journal Fastest Growing Private 100 is an annually generated list of privately held companies whose growth represents the best in the region. In order to be considered for the list, a company must have been in business for a minimum of three years and have 2008 revenues of at least $250,000.
iovation protects online businesses and their end users against fraud and abuse through our industry-leading combination of shared device reputation and real-time risk evaluation. 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 more than 600 million devices from every country in the world. Every day, iovation protects more than 7.5 million transactions and stops over 150,000 fraud attempts. For more information, visit www.iovation.com.