Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Verafin expects to deliver in excess of US$140million4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth $('#wpaloginform').submit(function( ) { To connect multiple page views by a user into a single Clarity session recording. Report incorrect company information. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. This enables BSA/AML professionals to perform powerful and efficient ongoing due diligence that is in line with the true risk the customer poses to the institution. Following the transaction, Verafin co-founders, management and employees will collectively represent the largest shareholding group. The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. To this end, Nasdaq Records the default button state of the corresponding category & the status of CCPA. 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada. privacy. Verafin, a Nasdaq company, is an industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. However you may visit Cookie Settings to provide a controlled consent. will, believes, expected, projected and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. measures, including organic revenue growth, non-GAAP EBITDA and ROIC. industry. This will include an investment in a new US$1million R&D partnership project with The Genesis Centre, Newfoundland and Labradors pre-eminent innovation well as future charges or reversals outside of the normal course of business. To connect multiple page views by a user into a single Clarity session recording. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. These cookies ensure basic functionalities and security features of the website, anonymously. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Sign up to receive the latest educational resources about today's financial We also use third-party cookies that help us analyze and understand how you use this website. making it more difficult to maintain business and operational relationships; risks related to diverting managements attention from Nasdaqs ongoing business operations; the negative effects of the announcement or the consummation of the Quarterly Cloud . Type a symbol or company name. The cookie is used to store if a user has or has not consented to the use of cookies. Verafin Cookie. this transaction. C$100 million in annual recurring . This cookie is used to store user's last activity, it is created by user's last activity time following with a unique multiple-digit number as session ID. Used by Microsoft Advertising as a unique ID for visitors. Verafin respects your Chris Mitchell, Managing Director at Spectrum Equity said, We are thrilled to be renewing our partnership with Verafin via this new investment to support its next phase of growth. Funding Rounds Number of Funding Rounds 5 Total Funding Amount $454M But opting out of some of these cookies may have an effect on your browsing experience. return on invested capital, and IRR objectives. institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud. As a Nasdaq company, Verafin extends its capabilities to service a global ecosystem of Tier-1 and Tier-2 banks, as well as regulatory authorities and consortium initiatives. This cookie is used to record the user consent for the cookies in the "Advertisement" category. Ed Ditmire, CFA: +1 212 401 8737ed.ditmire@nasdaq.com, Ryan Wells: +1 646 648 3887 ryan.wells@nasdaq.com, Yan-yan Tong: +46 (0)73 449 66 83yan-yan.tong@nasdaq.com, Longview Communications & Public Affairs (Canada)Ian Hamilton: +1 905 399 6591ihamilton@longviewcomms.caAndy Lloyd: +1 416 402 5029alloyd@longviewcomms.ca, Brian Hartlen: +1 709 725 8235brian.hartlen@verafin.com. This cookie is used to store user's last activity, it is created by user's last activity time following with a unique multiple-digit number as session ID. This website uses cookies to improve your experience while you navigate through the website. Articles, Webinars, White Papers and more. . Additionally, we are committed to teamwork, entrepreneurship, and a commitment to continued growth and development. A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. Anti-financial crime technology represents a large and growing sector with structural and regulatory tailwinds. Verafin Cookie. Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests. Google cookie is for Conversion Linker functionality it takes information in ad clicks and stores it in a first-party cookie so that conversions can be attributed outside the landing page. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. Verafin expects to deliver in excess of US$140 million 4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. This cookie is used to store user's information to prepopulate the forms and track user's site usage. Verafin's. The forward-looking statements included in this communication are made only as of the date hereof. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Verafin, a Nasdaq company, is an industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. Founders Brendan Brothers, Jamie King, Raymond Pretty. We look forward to working with Jamie and the rest of the Verafin team to continue to support their product-innovation led go-to-market strategy that has enabled the Companys explosive growth., Dave Unsworth, General Partner at IVP added, Verafin is in the very early innings of its mission to create the worlds most effective crime fighting network. Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, Florida Bankers Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. We believe that Verafin will not only complement and grow our existing presence in Canada, but also represents a potential catalyst for further investment accounting write-down on deferred revenue is excluded in these measures. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. The anti-financial-crime sector is a US$12.5-billion industry expected to see a compound annual growth rate of about 17 per cent from now until 2024, according to the investor report. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. These symbols will be available throughout the site during your session. Verafin provides artificial intelligence and machine learning to give you the ability to quickly uncover illicit activity, along with solutions to strengthen your end-to-end BSA/AML compliance program. New equity financing was provided by Spectrum Equitys current investing fund and Information Venture Partners (IVP) new fund with participation by new backers Northleaf Capital Partners, BDC Capital and Teralys Capital. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Analytical cookies are used to understand how visitors interact with the website. Verafin is the industry leader in enterprise Financial Crime Management, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. will make the following commitments: Verafins headquarters will proudly remain in St. Johns and its executive leadership team will remain Americas +1 212 318 2000. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Verafin has enjoyed tremendous growth in recent years, and its long-term vision of fighting financial crime through collaboration and cross-institutional analysis is fast becoming the industry standard for fraud detection and anti-money laundering (AML) regulatory compliance. benefits from the proposed transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction Verafin's. Verafin has raised a total of $454M in funding over 5 rounds. Quarterly results Annual reports SEC filings Letters to shareholders Financial strength rating Financials Letters to shareholders Read the latest message from Markel's co-chief executive officers to our business partners. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. LinkedIn sets this cookie for LinkedIn Ads ID syncing. discussion of this and other non-GAAP measures. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. Additional financial terms were not disclosed. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, Ethoca, GoodRx, Grubhub, Lynda.com, Origami Risk, RiskMetrics, SurveyMonkey and World-Check. Verafin is a company that provides financial crime management solutions. The cookie is a session cookie and is deleted when all the browser windows are closed. Verafin is the exclusive provider forTexas Bankers Association, Western Bankers Association, Florida Bankers Association, Massachusetts Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states. Verafins innovative fraud and AML detection platform, combined with Nasdaqs. Accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider. Risks and uncertainties include, among other things, Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other expectations with respect to Verafins business and realize expected synergies; the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management's attention from Nasdaqs ongoing business operations; significant transaction costs; unknown liabilities; future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the transaction; and the effect of the transaction on Verafins business relationships, operating results, and business generally. Sachs& Co. LLC, Morgan Stanley and TD Securities. Verafins legal advisor. Used by Microsoft Advertising as a unique ID for visitors. Analytical cookies are used to understand how visitors interact with the website. This cookie is used to store the user consent for the cookies in the category "Other". Nasdaq is now updating its outlook for the organic growth in non-GAAP operating expenses over the medium-term to 3-6% up from the 2-4% amount previously announced, reflecting the strong growth expectations of Verafin and our combined anti-financial crime technology offering. existing capital deployment plan, including dividend payments and share repurchases, consistent with past practice, and expects to de-lever over time to return to a leverage ratio consistent with its current Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. 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