About Socure
Socure is a company based in New York (United States) founded in 2012 by Johnny Ayers.. Socure has raised $650.25 million across 14 funding rounds from investors including Synchrony, SVB and KeyBank. The company has 88 employees as of March 31, 2022. Socure has completed 2 acquisitions, including Berbix and Effectiv. Socure offers products and services including RiskOS, Socure Verify, Sigma Identity Fraud, Phone RiskScores, and Predictive DocV. Socure operates in a competitive market with competitors including Onfido, IDnow, Jumio, Alloy and ION Group, among others.
- Headquarter New York, United States
- Employees 88 as on 31 Mar, 2022
- Founders Johnny Ayers
- Stage Unicorn
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Sectors
TechnologyFinancial Services
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Email
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Phone
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Website
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Social
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Products & Services of Socure
Socure offers a comprehensive portfolio of products and services, including RiskOS, Socure Verify, Sigma Identity Fraud, Phone RiskScores, and Predictive DocV. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Engine for real-time fraud detection and trust decisions using identity data.
Tool for verifying personal information and preventing identity fraud.
Service to assess risk of identity fraud through predictive analytics.
System for evaluating phone-related fraud risks in real time.
Platform for accurate ID document verification with liveness detection.
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Software Development Team
47 people
Data Analysis and Operations Team
28 people
Leadership Team
21 people
Sales and Marketing
20 people
Product Management Team
11 people
Senior Team
8 people
Human Resources and Administration
6 people
Operations Team
6 people
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Funding Insights of Socure
Socure has successfully raised a total of $650.25M across 14 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $95 million completed in March 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 14
- Last Round Debt – Conventional — $95.0M
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First Round
First Round
(12 Feb 2013)
- Investors Count 22
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2023 | Amount | Debt – Conventional - Socure | Valuation |
investors |
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| Nov, 2021 | Amount | Series E - Socure | Valuation | Accel , T. Rowe Price | |
| Jun, 2021 | Amount | Series D - Socure | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Socure
Socure has secured backing from 22 investors, including institutional and venture fund investors. Prominent investors backing the company include Synchrony, SVB and KeyBank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital fund focused on investing in multiple sectors
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Founded Year | Domain | Location | |
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Accel is recognized as a leading venture capital firm.
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Founded Year | Domain | Location | |
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Venture and private equity investments are managed with global diversification.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Socure
Socure has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Berbix and Effectiv. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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AI-based anti-fraud and risk management solutions are offered to businesses.
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2021 | ||||
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Digital IDs are authenticated securely by Berbix.
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2018 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Socure
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Socure Comparisons
Competitors of Socure
Socure operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Onfido, IDnow, Jumio, Alloy and ION Group, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Identity verification solutions are provided, including document and biometric authentication.
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| domain | founded_year | HQ Location |
Automated and expert-led identity verification services are provided.
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| domain | founded_year | HQ Location |
AI-powered identity verification and fraud protection solutions are provided.
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| domain | founded_year | HQ Location |
Identity decisioning platform is provided for banks and fintech firms.
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| domain | founded_year | HQ Location |
Treasury management solutions are provided for financial institutions and banks.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Socure
Frequently Asked Questions about Socure
When was Socure founded?
Socure was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Where is Socure located?
Socure is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Socure?
Johnny Ayers is the current CEO of Socure. They have also founded this company.
Is Socure a funded company?
Socure is a funded company, having raised a total of $650.25M across 14 funding rounds to date.
How many employees does Socure have?
As of Mar 31, 2022, the latest employee count at Socure is 88.
What does Socure do?
Socure was founded in 2012 in New York, United States, and operates in the identity verification sector. Machine learning-based fraud detection, identity verification, onboarding, and document verification are offered through its platform. Fuzzy name matching and natural language processing tools are utilized for adverse media screening. Services are delivered to support secure user authentication and compliance processes.
What products or services does Socure offer?
Socure offers RiskOS, Socure Verify, Sigma Identity Fraud, Phone RiskScores, and Predictive DocV.
How many acquisitions has Socure made?
Who are Socure's investors?
Socure has 22 investors. Key investors include Synchrony, SVB, KeyBank, J P Morgan, and Accel.
What is Socure's valuation?
The valuation of Socure is $4.5B as of Nov 2021.
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