iovation is a Finalist for the 2011 Red Herring Top 100 North America Award.

iovation Recognized for Strong Financial Performance and Technology Innovation

PORTLAND, Ore. -- iovation, the Device Reputation Authority[TM] protecting online businesses from fraud and abuse, announced today that it has been selected as a Finalist for Red Herring's Top 100 North America award, a prestigious list honoring the year's most promising private technology ventures from the North American business region.

The Red Herring editorial team selected the most innovative companies across North America, evaluating both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their supporting industries.

This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz" and make the list as a valuable instrument for discovering and advocating the greatest business opportunities in the industry.

"This year was very rewarding," said Alex Vieux, publisher and CEO of Red Herring. "The global economic situation has abated and there are many great companies producing really innovative and amazing products. We had a very difficult time narrowing the pool and selecting the finalists. iovation shows great promise and therefore deserves to be among the Finalists. Now we're faced with the difficult task of selecting the Top 100 winners of Red Herring North America. We know that the 2011 crop will grow into some amazing companies that are sure to make an impact."

Finalists for the 2011 edition of the Red Herring 100 North America award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, mobile and other industries completed their submissions to qualify for the award.

"We are honored to be recognized and included as one of North America's best high technology innovators," says Greg Pierson, CEO and Founder of iovation. "Since our inception in 2004 we have been wildly successful at protecting the world's largest brands from online fraud and abuse. Just last year, we protected online businesses around the world from 35 million fraud attempts allowing them to further protect their customers, brand and profits."

The Finalists will present their winning strategies at the Red Herring North America Forum in Hollywood, California, June 13-15, 2011. The Top 100 winners will be announced at a special awards ceremony the evening of June 15 at the event.

About iovation

iovation protects online businesses and their end users against fraud and abuse through our industry-leading combination of shared device reputation and real-time risk evaluation. 2,000 fraud managers around the globe leverage iovation's database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation's knowledge base of 600 million devices from every country in the world. Every day, iovation protects more than 7 million transactions and stops over 150,000 fraud attempts. For more information on iovation, visit www.iovation.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6729457&lang=en