Socure

regtechauthentication and fraud prevention

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 18/10/2019

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About

Socure provides a real-time predictive analytics platform that combines the newest forms of machine learning and artificial intelligence with digital, offline and social identity data to deliver the most accurate and robust KYC, identity verification and fraud risk prediction solution in the market.Socure deploys its advanced identity verification robot across email, phone, online/social, address, IP, physical documents and traditional offline proprietary predictors to help clients better assess identity risk and substantially increase acceptance, reduce fraud losses, and optimize manual review/step up authentication for transactions and applications in the digital world.From a single RestFul API, Socure delivers best-of-breed email, phone, and address riskScore, NAPE correlation models, overall identity fraud risk prediction, KYC/CIP, AML Watchlist and physical document verification services.Socure is a high-growth company based in NYC - Silicon Alley and we're hiring!

MEDICI Analysis

Source is a digital identity verification company that uses data science in trusted online/offline data (Social media, Email, Phone, IP) for authentication. Socure Social Biometrics uses the power of social attestation as a way to improve identity verification and identity fraud detection in real time.

Focus

PRODUCTS & SERVICES

Real time based multi factor authentication platform for businesses using social biometrics data.

MAIN CLIENTS

Customers include a top 5 US bank

a top 5 global money transfer provider

a top 10 US card issuer and many of the leading digital banks

lenders and insurers.

COMMENT

The Socure Social Biometrics platform helps to combat the $48 billion in annual losses to businesses due to account takeover and identity-related fraud, with ID+ for consumer verification and perceive (Beta) for remote facial biometrics to enable real-time transaction verification.

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

3

TOTAL FUNDING

$66.6 M

DATE OF LAST FUNDING

Aug 2020

IPO STATUS

Private

TOTAL FUNDING COMMENT

The company intends to use the latest funds to scale sales and support operations, build out its infrastructure and drive market expansion.

ESTIMETED REVENUE RANGE

$10M to $50M

FUNDING SERIES

SERIES A  · $4.7 M  · Oct 2014

SERIES B  · $26.9 M  · Aug 2017

SERIES C  · $35 M  · Aug 2020

LISTED

NO

company provided insights
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Innovation Programs

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