ST. JOHN'S, Newfoundland (2/19/15)--Verafin Inc., a cloud-based fraud detection and anti-money laundering software provider, reported revenue growth of 45% on the strength of a 68% increase in client bookings in 2014 compared with the previous year.
Verafin is a CUNA Strategic Services strategic alliance provider.
"The key to delivering a leading solution in this industry is based on a commitment to continuous improvement," said Jamie King, Verafin CEO. "With our third consecutive year of double digit revenue growth, strong new customer growth and many new enhancements to our product, we had an outstanding year in every part of our business."
During 2014, Verafin announced a $60 million (Canadian) investment by Spectrum Equity, a growth equity firm focused on the information economy. The investment for a substantial minority stake in the company will support Verafin's rapid growth and continued investment in its market-leading platform.
A snapshot of Verafin's technology achievements and milestones in 2014 include: