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August 26, 2020

Digital ID verification company Socure secures fresh investment to fund growth

US-based Socure has closed a $35m funding round to support the growth of its ‘Day Zero’ identity verification technology.

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The funding round was led by Sorenson Ventures with participation from existing investors Commerce Ventures, Scale Venture Partners, and Flint Capital.

It was also joined by new investors such as Citi Ventures, Wells Fargo Strategic Capital, and MVB Financial.

The latest funding round brings the total amount raised by the company to date to $96m.

Socure will use the fresh funds to bolster its machine learning capabilities to eliminate identity fraud.

Socure CEO Tom Thimot said: “We are grateful to have had significant investor interest despite the current economic environment, and are proud to have taken less money than was on the table.

“As we continue to build on our position as the leader in Day Zero identity, we are prioritizing investment in new verticals, talent, products, and capabilities.”

Recently, Socure rolled out a module for document checking and biometric selfie capabilities with liveness detection.

The module helps financial institutions and other organizations to prevent sophisticated fraud attacks by meeting regulation and compliance.

Founded in 2012, Socure’s predictive analytics platform leverage artificial intelligence (AI) and machine learning techniques to verify identities in real-time.

It uses online or offline data intelligence from email, phone, address, IP, device, velocity, and the broader internet to do so.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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