SheerID Announces Record Growth in Q2

Company also brings on board Chief Revenue Officer, Fernando Castellanos, to Accelerate Expansion into New Markets

PORTLAND, Ore., July 17, 2018 (GLOBE NEWSWIRE) -- SheerID, the market leader in verification technology enabling digital trust for the enterprise, today announced that it had its biggest quarter ever in Q2, more than doubling bookings from the same period last year. Additionally, SheerID welcomed a number of new customers in the first half of the year, including Discover, J. Crew, and Urban Outfitters. These brands join an impressive client roster that includes other global enterprise companies such as Lowe’s, Costco, Amazon, Sprint, and Foot Locker.

To support the growing demand for its digital verification products, SheerID has hired Fernando Castellanos to serve as Chief Revenue Officer and move the company into new markets while deepening its relationship with existing customers. Castellanos has spent his career in a variety of revenue-generating roles, including most recently as Vice President of Sales for fraud prevention company, Accertify, a wholly owned subsidiary of American Express.

“Though I’ve been here for a short time, SheerID’s reputation in the industry speaks for itself,” stated Castellanos. “I'm excited to help SheerID expand its market leadership position in digital verification as it delivers solutions to help leading B2C brands acquire more customers effectively with exclusive offers while mitigating fraud.”

SheerID continues to hire aggressively, having recently brought on its 80th employee, up from a total of 43 at the end of 2017. To accommodate this expansion, the company recently moved into bigger offices at 620 SW 5th Ave in downtown Portland. SheerID’s employee growth comes on the heels of an $18M Series B fundraise, which the company announced in January.

“There’s no question that SheerID has established itself as a leader in the rapidly growing digital verification market,” said Eric Byunn, a partner at Centana Growth Partners who led the investment round. “Fernando has the vision and leadership to lead SheerID into its next phase of growth and continue the firm’s momentum across a range of industries, especially given his wealth of knowledge and experience in delivering data-driven solutions to Fortune 1000 enterprises.”

“We are thrilled to welcome someone of Fernando's caliber to the team,” said Jake Weatherly, CEO, SheerID. “And it could not have come at a better time, following the strong sales growth we are experiencing. Leading brands are recognizing the value of digital verification, as they want to provide unique offers and personalized experiences for their target customers in a way that is frictionless and secure.”

About SheerID
SheerID’s leading digital verification platform instantly verifies the identity of individuals and businesses, enabling enterprises to provide high-value customer segments with exclusive offers and experiences that drive customer acquisition while mitigating fraud. By using authoritative data sources to verify credentials in real-time within an organization’s brand experience, SheerID delivers a seamless customer experience that reduces churn and fuels loyalty to drive revenue growth. As a result, the world’s biggest brands – including Spotify, Lowe’s and Foot Locker – rely on SheerID as their trusted verification partner. Founded in 2011, SheerID is backed by Voyager Capital and Centana Growth Partners.

Bill Schneider