Founded Year

2012

Stage

Series E | Alive

Total Raised

$648.25M

Valuation

$0000 

Last Raised

$450M | 7 mos ago

Revenue

$0000 

About Socure

Socure specializes in Day Zero digital identity verification technology. Its predictive analytics platform applies AI and ML techniques with trusted online/offline data intelligence from email, phone, address, IP, device, velocity, and the broader internet to verify identities instantly.

Socure Headquarter Location

330 7th Avenue Suite 201

New York, New York, 10001,

United States

866-932-9013

ESPs containing Socure

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Fintech / Cybersecurity

Solutions to help banks comply with anti-money laundering regulations include products like identity verification, biometrics, due diligence, risk assessments, and activity monitoring.

Socure named as Challenger among 8 other companies, including Onfido, Jumio, and Quantexa.

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Socure's Products & Differentiation

See Socure's products and how their products differentiate from alternatives and competitors

  • Sigma Synthetic Fraud

    Sigma Synthetic Fraud provides a model trained exclusively to predict synthetic identities. It is purpose-built and trained with consortium data from the largest financial institutions to tackle targeted fake, randomized, and synthetic patterns to produce highly accurate real-time actionable reason codes and risk scores.

    Differentiation

    The solution achieves auto-capture of over 90% of synthetic ID fraud in the riskiest 3% of users, at enrollment and within existing customer portfolios. 

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    Differentiation

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    Differentiation

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

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    Differentiation

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Expert Collections containing Socure

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Socure is included in 10 Expert Collections, including Unicorns- Billion Dollar Startups.

U

Unicorns- Billion Dollar Startups

1,118 items

R

Regtech

1,341 items

Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements in FIs. Regulatory technology helps FIs and regulators address challenges ranging from traditional compliance and risk management to data reporting and transmission.

F

Fintech 250

748 items

A

AI 100

99 items

P

Payments

1,949 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

B

Banking

380 items

Startups providing solutions to banks to automate processes and operations.

Socure Patents

Socure has filed 13 patents.

The 3 most popular patent topics include:

  • Payment systems
  • Identity theft
  • Social networking services
patents chart

Application Date

Grant Date

Title

Related Topics

Status

4/12/2021

3/8/2022

Machine learning, Payment systems, Fraud, Data management, Data mining

Grant

Application Date

4/12/2021

Grant Date

3/8/2022

Title

Related Topics

Machine learning, Payment systems, Fraud, Data management, Data mining

Status

Grant

Latest Socure News

Socure Reports Hypergrowth with 236% Increase in Customers, Rapid Scale Across web3, Online Gaming, FinTech, Marketplaces, and Public Sector

May 19, 2022

Socure Hires Veteran CFO Krish Venkataraman with 20-Year Track Record and IPO Experience as it Further Solidifies Identity Verification Market Leadership Download May 19, 2022 09:00 AM Eastern Daylight Time INCLINE VILLAGE, Nev.--( BUSINESS WIRE )-- Socure , the leading provider of digital identity verification and fraud solutions, today announced record customer growth of 236% for its graph-defined identity verification platform. As fast, accurate, and inclusive customer onboarding has become essential for online companies across all verticals, Socure has emerged as the gold standard in identity verification, enabling organizations of all sizes to drive millions in incremental revenue and open up equitable access to services and benefits. In the last quarter, Socure experienced record growth across all markets – including significant wins in web3, and online gaming, with year-over-year customer acquisition in these markets increasing 1,200% and 600% respectively – while further strengthening its market leadership in banking, fintech, and financial services industries. Marked customer wins in financial services, fintech, crypto, gaming, e-commerce, healthcare, and the public sector include Fortress, Poshmark, Sezzle, Game Play Network, PrizePicks, GridRival, EarnUp, LoanGlide, State of California, Florida’s Homeowner Assistance Fund, and Bankers Healthcare Group. Record customer momentum also comes as the company adds Krish Venkataraman as CFO to further accelerate Socure’s growth and operational efficiency while rapidly scaling. An accomplished software and Wall Street executive, Venkataraman is a renowned expert in financial services, cybersecurity, payments, exchange technology and big data, and has the proven ability to turn cost centers into profit centers, guide market leaders to successful IPOs, and consistently exceed Wall Street’s growth expectations. “Our record customer growth over the last twelve months demonstrates that our identity verification and fraud technology delivers the unmatched accuracy and demographic coverage our customers need to gain a competitive advantage, drive conversions, and generate more revenue,” said Johnny Ayers, founder and CEO of Socure. “With Krish on board, Socure is poised to take our growth to even greater heights as we seize new market opportunities for the company and our investors. Krish has scaled a number of organizations in numerous industries and we are looking forward to his leadership, partnership and strategic vision as we accelerate into the next important phase of the company.” “Socure offers something I’ve seldom experienced in the last 20 years – an industry leading solution that drives digitalization of commerce worldwide,” said Venkataraman. “The incredible pace at which Socure has won customers in new markets indicates the company has what it takes to seize market leadership in one of the largest TAM’s and biggest opportunities in the evolution of web2 to web3. I’m eager to help Johnny and the management team to take the company to the next phase of growth and maturity.” Socure also has a best-in-class net revenue retention rate driven by near-zero attrition. Additional growth is being driven by enterprise customers increasingly deploying multiple Socure products across various divisions making Socure their complete KYC, document verification, AML and fraud prevention platform. Partner sales also rose across industries 125% year-over-year as they seek end-to-end solutions from Socure as a single best-in-class provider to help their customers securely verify and onboard consumers accurately in real-time, eliminating friction at sign-up for legitimate users. Socure partners and customers rely on the platform’s ability to not only provide the most precise identity fraud classification model in the industry, but to also deliver unparalleled accuracy with auto-approval rates of up to 98% for mainstream demographics, and up to 94% for the hard-to-identify populations such as Gen Z, millennial, credit invisible, thin-file, and new-to-country. This dramatically reduces false positives, manual reviews, and customer friction, while onboarding more good consumers quickly, and safely. In the last quarter, the company also received industry and analyst recognition including: FinTech Breakthrough Awards’s Best Identity Verification Solution Winner Forbes’s Best Startup Employer Winner (for the third year in a row) IDC’s Future of Trust Award Winner To learn more about Socure’s award-winning identity verification and fraud solutions, visit: https://www.socure.com/products/socure-id . About Socure Socure is the leading platform for digital identity verification and trust. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from email, phone, address, IP, device, velocity, and the broader internet to verify identities in real time. The company has more than 1,000 customers across the financial services, government, gaming, healthcare, telecom, and e-commerce industries, including four of the top five banks, seven of the top 10 card issuers, three of the top MSBs, the top payroll provider, the top credit bureau, the top online gaming operator, the top Buy Now, Pay Later (BNPL) providers, and over 250 of the largest fintechs. Marquee customers include Chime, SoFi, Varo, Public, Stash, and DraftKings. Socure customers have become investors in the company including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, Voyager, and Synchrony. Additional investors include Accel, T. Rowe Price, Bain Capital Ventures, Tiger Global, Commerce Ventures, Scale Venture Partners, Sorenson, Flint Capital, Two Sigma Ventures, and others. Contacts

Socure Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Socure Rank

  • When was Socure founded?

    Socure was founded in 2012.

  • Where is Socure's headquarters?

    Socure's headquarters is located at 330 7th Avenue, New York.

  • What is Socure's latest funding round?

    Socure's latest funding round is Series E.

  • How much did Socure raise?

    Socure raised a total of $648.25M.

  • Who are Socure's competitors?

    Competitors of Socure include Nymi, Cognito, Acuant, Drata, Laika, Persona, Diamond Fortress Technologies, SentiLink, Smile Identity, Orum and 30 more.

  • What products does Socure offer?

    Socure's products include Sigma Synthetic Fraud and 3 more.

  • Who are Socure's customers?

    Customers of Socure include Chime, Varo Money, Public, Stash and DraftKings.

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