Modern geodetic techniques provide valuable and near real-time observations of volcanic activity. Characterizing the source of deformation based on these observations has become of major importance in related monitoring efforts. We investigate two random search approaches, simulated annealing (SA) and genetic algorithm (GA), and utilize them in an iterated manner. The iterated approach helps to prevent GA in general and SA in particular from getting trapped in local minima, and it also increases redundancy for exploring the search space. We apply a statistical competency test for estimating the confidence interval of the inversion source parameters, considering their internal interaction through the model, the effect of the model deficiency, and the observational error. Here, we present and test this new randomly iterated search and statistical competency (RISC) optimization method together with GA and SA for the modeling of data associated with volcanic deformations. Following synthetic and sensitivity tests, we apply the improved inversion techniques to two episodes of activity in the Campi Flegrei volcanic region in Italy, observed by the interferometric synthetic aperture radar technique. Inversion of these data allows derivation of deformation source parameters and their associated quality so that we can compare the two inversion methods. The RISC approach was found to be an efficient method in terms of computation time and search results and may be applied to other optimization problems in volcanic and tectonic environments.