With a 33% quarter-over-quarter revenue growth in 2016, a 160% increase in customers, and the announcement of a new credibility assessment technology to be released later this year, attendees at the 3rd Annual Converus Sales Meeting were re-energized at the impact the company is having on the industry.
LEHI, Utah – May 23, 2017 – Nearly 50 Converus Service Partners and staff gathered May 10-11 at the 3rd Annual Service Partner Meeting in Cancún, Mexico. News of the company’s growth and other successes in the credibility assessment market during 2016 were as welcoming as the picturesque scenery of this popular resort town.
In his keynote address to kick-off the meeting, Converus President and CEO Todd Mickelsen emphasized one of the company’s guiding principles is, “to only go to market with scientifically validated credibility assessment solutions. You have our commitment to do that.”
Mickelsen said maintaining that standard is vital for Converus to achieve its vision of “helping organizations, government and society create and maintain environments of honesty and safety,” and its mission “to be the leading technology provider of credibility assessment solutions.”
Judging by the 2016 growth Converus experienced, providing scientifically validated credibility assessment solutions has paid big dividends for this tech start-up. The company, which launched in 2014, had 33% quarter-over-quarter revenue growth. Three regions generated 71% of the 2016 revenues: South America (26%), USA (25%) and Mexico (20%). The next largest revenue-generating regions were Central America (11%) and Africa (9%).
Contributing to this fast growth were many factors, including an increase in Service Partners, customers and number of EyeDetect tests run. EyeDetect Service Partners increased from 5 to 19 in the U.S. and from 50 to 83 worldwide. The number of EyeDetect Customers grew from 125 in 2015 to 325 in 2016. Plus, Converus and its Service Partners ran thousands of EyeDetect tests in 24 countries and in 10 different languages.
“The global reach and impact that Converus has had in its short existence within the credibility assessment arena is staggering, to say the least,” said Forensic Technologies CEO & Chief Forensic Examiner Darryl Bullens, a San Diego-based Service Partner. “With over 350 clients and thousands of EyeDetect examinations already conducted, it’s not a matter of if Converus will be a leader in the credibility assessment field, but simply a matter of when. The naysayers are in for a wake-up call.”
Converus opened the U.S. market in August 2015. Momentum has quickly grown as Converus now has local law enforcement, fire and probation customers nationwide.
“We’re very excited to see the growth EyeDetect is having,” said Diego Castro of Identity, a Converus Service Provider located in Guatemala City, Guatemala. “The momentum of EyeDetect is inspiring.”
“Hearing the growth and acceptance of Eyedetect technology worldwide is surprising,” added Manuel Novoa, CEO of LatinAmerican Polygraph Institute, a service provider located in Bogotá, Colombia. “We’re pleased to be part of the solution to provide our customers security, credibility and confidence.”
One of the highlights of Mickelsen’s keynote was the pre-announcement of a new credibility assessment technology that can be used to verify identity and detect transaction fraud in an online environment via a web browser or via a mobile device.
“For example, potentially fraudulent claims are flagged automatically for review, and the insurance company gets a real-time credibility score,” said Mickelsen. “We believe we’re going to disrupt the market with this technology.”
Mickelsen anticipates the official public launch of this new credibility assessment tool will be later this year.
“I’m proud to be part of such a pioneering company,” said David Wattley, president of EyeScan S.A., a Converus Service Provider located in Panama City, Panama.
Converus Science Team Member David Raskin shared recent EyeDetect field and lab study results regarding testing job applicants for drug use. “Our tests show the accuracy of EyeDetect is quite similar to that of polygraph in screening situations,” said Dr. Raskin. “In fact, I would assert it’s probably much better because we don’t have good data in the polygraph field for screening tests.”
Several customer success stories were shared, including video testimonials from the Doña Ana Sheriff department and the Colombian Air Force. The sheriff’s department, for example, emphasized the importance of not being stuck on the technologies of yesterday, and how changing to EyeDetect will save the department $500,000 over the next three years.
Jeff Lierly, a managing partner for the Citrus Heights, Calif.-based credibility assessment firm Mansfield, Lierly and Associates, said, “I’m highly optimistic that Converus is going to be the future of credibility assessment. I could not be happier in our decision to become a Converus Service Partner.”
In his concluding remarks, Mickelsen said, “We’re very focused on creating cutting-edge technological solutions that address credibility assessment in a manner that’s never been done before. Thank you all for your efforts in helping us create and maintain environments of honesty and safety throughout the world.”
For more information on EyeDetect, visit www.converus.com.
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Converus (“with truth”) is committed to providing trustworthy credibility assessment solutions. Its flagship product, EyeDetect® is the first ocular-motor deception detection solution. It’s an accurate, cost-effective, efficient, secure and nonintrusive method that detects deception in 30 minutes by analyzing eye behavior. The same scientists credited with computerizing the polygraph in 1991 developed EyeDetect. It’s a new way for organizations to manage risk and ensure workplace integrity, and for law enforcement agencies and governments to detect deception. Ultimately, it helps protect countries, corporations and communities from corruption, fraud and threats. Converus is headquartered in Lehi, Utah. Visit www.converus.com.
Press Contact: Jeff Pizzino, APR / +1 480.606.8292