This cookie is to store the resource that was in user's last activity. The agreement to acquire Verafin was announced on November 19, 2020. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Valuable research and technology reports. Asia Pacific +65 6212 1000. This cookie is used to store the user consent for the cookies in the category "Necessary". It works only in coordination with the primary cookie. www.verafin.com Contact Information Headquarters 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada (877) 368-9986 Verafin Profile and History We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. The cookie stores information anonymously and assigns a randomly generated number to recognize unique . Verafin expects to deliver in excess of US$140 million4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. ARR does not have any standardized It works only in coordination with the primary cookie. This cookie is used to store the referral link when a user initially discovers on Verafins website. $('#wpaloginform label[for="user_email_username"]').text("Enter your email address"); Anti-financial crime technology represents a large and growing sector with structural and regulatory tailwinds. These symbols will be available throughout the site during your session. session and campaign data and also keeps track of site usage for the site's analytics report. Leveraging its robust big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin can significantly reduce false positive alerts, deliver context-rich insights and streamline the daunting BSA/AML compliance processes that financial institutions face today. This cookie is used to store the user consent for the cookies in the category "Analytics". Nasdaq intends to finance the This investment by Nasdaq, a global This website uses cookies to improve your experience while you navigate through the website. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. To track previous page view id and url. Verafin is the industry leader in These cookies ensure basic functionalities and security features of the website, anonymously. Funding Rounds Number of Funding Rounds 5 Total Funding Amount $454M 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. 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. As a result, Nasdaq is raising its Market Bing Ads sets this cookie to engage with a user that has previously visited the website. Phone Number 877.368.9986. These cookies will be stored in your browser only with your consent. } This cookie is used to store user's information to prepopulate the forms and track user's site usage. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. Verafin Financial Crime Management Jack Henry. Verafins innovative anti-money laundering and fraud platform and client breadth. This cookie is to record user's consent for the cookies in the category "Functional". Combines Nasdaqs global reach and established regulatory technology leadership with. The cookie is a session cookie and is deleted when all the browser windows are closed. Accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider. Verafin is a company that provides financial crime management solutions. Award-Winning Sales Intel. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. We also use third-party cookies that help us analyze and understand how you use this website. 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. Configurable Dashboards Manage and transform your information into key business insights. services enables clients to optimize and execute their business vision with confidence. Forward-looking statements These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. This cookie is used to store user's information to prepopulate the forms and track user's site usage. Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads, according to the user profile. This cookie is used to store the user consent for the cookies in the category "Performance". At the core of Nasdaqs mission, we champion fairness and integrity in the markets that we build and in the broader financial ecosystem in which we Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. Sign up to receive the latest educational resources about today's financial Verafin raised a total of $422.2 M in funding over 3 rounds. This cookie is used to store the user consent for the cookies in the category "Other". LinkedIn sets this cookie for LinkedIn Ads ID syncing. These cookies ensure basic functionalities and security features of the website, anonymously. The cookie is used to store if a user has or has not consented to the use of cookies. The agreement will combine Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, Ethoca, GoodRx, Grubhub, Lynda.com, Origami Risk, RiskMetrics, SurveyMonkey and World-Check. Investors should not rely on any single financial measure when evaluating these businesses. Visit www.verafin.com, email info@verafin.com or call 866.781.8433. accelerate Market Technologys projected timing of meeting the rule of 405 threshold to 2023, two years ahead of Market Technologys 2025 target. Verafins existing executive leadership team will continue to lead the company. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. with U.S. GAAP. The cookie is used to analyse the website's visitors and monitor traffic patterns. if(!$('#wpaloginform #user_email_username').val()) { Compare how recession-proof Verafin Usa is relative to the industry overall. market according to Oliver Wyman, have become increasingly attractive solutions for financial institutions. Microsoft Clarity cookie. may be different from non-GAAP measures used by other companies. Automation and vendor solutions, a US$13billion LinkedIn sets this cookie to remember a user's language setting. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.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. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. www.sec.gov. 2021 Proxy Statement. The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. The cookie is used to store if a user has or has not consented to the use of cookies. Verafins all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, leveraging behavioral analytics to help you effectively identify crime, From investigators and senior management, to deposit operations, collections and front-line staff Verafin can help all areas of your institution combat financial crime. Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . The transaction meets all of Nasdaqs acquisition investment criteria: Verafin is a strong strategic and cultural fit, accelerating Nasdaqs evolution into a technology, analytics For purposes of providing the pro-forma impact of the Verafin acquisition, Verafins forecasted results are included and the impact of purchase 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. Blogs. At Nasdaq, we believe that fair, secure and transparent markets are vital to creating strong economies that move the world forward, said Adena Friedman, President and Chief Executive Officer, Nasdaq. At the time, Verafin CEO Jamie King. A prior IVP fund provided initial venture capital financing for Verafin in 2009, and a prior Spectrum Equity fund led a substantial growth equity financing in 2014. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the transaction and Nasdaqs plans, objectives, expectations and intentions with respect to its business andVerafin. You also have the option to opt-out of these cookies. Nasdaqs clear commitments to the Province will help foster prosperity In the first quarter of 2019, Verafin hit $100 million in annual recurring revenue growth of 87 per cent since the beginning of 2017. in place and continue to lead the companys growth. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Represents revenues less transaction-based expenses. This cookie is used by Leadlander. Leveraging its robust big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin can significantly reduce false positive alerts, deliver context-rich insights and streamline the daunting BSA/AML compliance processes that financial institutions face today. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. However you may visit Cookie Settings to provide a controlled consent. comparative measure. Quarterly Cloud . Links to the webcast and accompanying HALIFAX Newfoundland and Labrador-based anti-financial-crime software firm Verafin has agreed to be acquired by stock-exchange operator Nasdaq in an all-cash deal valued at US$2.75 billion. Wachtell, Lipton, Rosen& Katz and Blake, Cassels& Graydon LLP served as legal advisors to Nasdaq. We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Brian HARTLEN, brian.hartlen@verafin.com 709.725.8235, Internet Explorer presents a security risk. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. accounting write-down on deferred revenue is excluded in these measures. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. NEW YORK and ST. JOHN'S, Newfoundland and Labrador, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, announced today the completion of its acquisition of Verafin, an industry pioneer in anti-financial crime management solutions.The agreement to acquire Verafin was announced on November 19, 2020.. displacing legacy providers and manual processes with its cloud-based, state-of-the-art, market-proven solution. Crossing Boundaries: The Expansive Threat of BEC, Do Not Sell My Personal Information (CA Residents Only). This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. 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. What industry is the company in? Looking ahead, Verafins capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaqs technology to detect market manipulation and abuse. We believe that Verafin will not only complement and grow our existing presence in Canada, but also represents a potential catalyst for further investment involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Verafins approach includes big data intelligence, visual storytelling and collaborative investigations to help institutions stay a step ahead of regulatory change and financial crime. LinkedIn sets this cookie to remember a user's language setting. 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. Records the default button state of the corresponding category & the status of CCPA. for Masters and PhD students. and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. Report incorrect company information. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. Type a symbol or company name. Represents non-GAAP EBITDA margin percentage plus annual growth rate. hub. Nasdaq and Verafin believe that these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Verafins financial condition and results of operations. Nasdaq includes acquisitions in its organic growth calculations after they have been part of Nasdaq for 12 months, and as such, Verafins impacts on organic revenue and non-GAAP expense growth will begin in the first quarter of 2022. 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. Analytical cookies are used to understand how visitors interact with the website. Verafin is the 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 . Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. For more information, visit http://www.informationvp.com. C$100 million in annual recurring . Nasdaqs investment will help Verafin expand its The intelligent technology solutions Verafin has created are second-to-none, and that is evident in the companys Over 2,000 banks and Following the transaction, Verafin co-founders, management and employees will collectively represent the largest shareholding group. Canada. leading trade and market surveillance solution, will empower Nasdaq to play an increasingly important role in building stronger economies around the world, said Adena Friedman, President By clicking Accept, you consent to the use of ALL the cookies. 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. largest global banks as they collaborate to detect financial crimes to support law enforcement investigations. Nasdaq highly values the skills and expertise of Verafin employees and will invest to both maintain and increase . Do Not Sell My Personal Information (CA Residents Only). Our diverse offering of data, analytics, software and Verafin Cookie. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. the windfall would allow the companythe biggest tech firm in the provinceto keep growing while remaining independent. During this time, the Company has achieved many financial and operational milestones: We are very excited to begin this new phase of Verafins journey. The proposed deal comes just over a year after Verafin clocked the biggest venture funding round in Canadian history: a $515-million equity and debt recapitalization deal to help build out its product innovation and land bigger clients in the banking sector. Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday. Necessary cookies are absolutely essential for the website to function properly. Together with Nasdaq, we will be a clear leader in expanding the fight against illicit finance by delivering our capabilities to a global client base from our 18 Hebron Way. This cookie is used to store the user consent for the cookies in the category "Analytics". Type a symbol or company name. 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. As previously disclosed in Nasdaqs press release on November 19, 2020 regarding the acquisition of Verafin, the inclusion of Verafin increases the growth potential of Nasdaq, resulting in managements outlook for organic revenue growth in the Market Technology business of 13-16% CAGR over the medium-term (3-5 years), and an increase to its outlook for the broader Solutions Segments businesses to achieve a 6-9% organic revenue CAGR over the medium-term. The pattern element in the name contains the unique identity number of the account or website it relates to. This cookie is to record user's consent for the cookies in the category "Functional". Vice President, Financial Planning & Analysis, Bsa & Anti-Money Laundering Head of Product Management. The cookie is a session cookie and is deleted when all the browser windows are closed. This communication contains forward-looking information related to Nasdaq,Verafinand the acquisition ofVerafinby Nasdaq that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, Software Updates. To connect multiple page views by a user into a single Clarity session recording. Last Funding Type Private Equity. Verafin emphasizes a holistic approach to eradicating financial crime and its platform supports a consortium of several of the Verafin analyzes customer activity across multiple transaction channels, providing you with robust alerts that highlight a wide range of fraudulent scenarios and protect you against fraudsters targeting your institution and customers. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a Financial institutions face significant challenges in detecting and preventing financial crime, and therefore invest significant capital and resources in combatting an ever-increasing threat to the integrity of the global financial system. Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. 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This cookie is used to store the user consent for the cookies in the category "Necessary". 1 Includes the impact of the acquisition of Verafin +19% YoY increase $1,871M Annualized recurring revenue 4Q21 Progress on Key Metrics Confirm our Confidence in our Strategy 7 Solutions Segments. LinkedIn sets the lidc cookie to facilitate data center selection. hereof. The forward-looking statements included in this communication are made only as of the date hereof. Verafins legal advisor. It offers fraud detection, anti-money laundering, high-risk customer management, online account takeover detection, and other solutions. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. This cookie is used to store the user consent for the cookies in the category "Performance". Get a D&B Hoovers Free Trial. Their latest funding was raised on Sep 25, 2019 from a Private Equity round. Verafins products are powered by intelligent analytics and leverage machine learning, robust shared data existing regulatory technology and anti-financial crime solutions, which include its renowned Nasdaq Trade and Market Surveillance offering, its Buy-side Compliance product, as well as the Nasdaq Automated alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. This will include an investment in a new US$1million R&D partnership project with The Genesis Centre, Newfoundland and Labradors pre-eminent innovation



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