new York–(Business wire–HealthyThe leading provider of digital identity verification and fraud solutions has announced a record 450M round of the world’s best growth equity and public market investors at a price of $ 4.5 B. Seven months after the $ 1.3B Series D, the company gained 500% over the year with a record growth of over 500% and an investment demand of about $ 1B. Verification location.
It is part of a series of e-marketing campaigns. Add With recommended funds and accounts T. Rowe Price Associates, Inc. It also includes two new investors. Bain Capital Venture And Tiger Global, And participation from existing investors Business Venture, Scale Venture Partners, And Sorenson Ventures.
Socure will accelerate its investment in product innovation to address identity challenges in the digital consumer journey, tackle new markets, including the public sector, and attract and retain the best product, data science and engineering teams in the world. . The capital, Socrates, will increase customer engagement information and a fully automated ID + platform, not only to prevent third-party and man-made fraud, but also to address the risk of payment and third-party fraud and provide world-class self-service. Analytical skills.
Socure ID + has become the preferred identity and scam platform for enterprises of all sizes, with four of the five largest banks, seven of the 10 largest credit card issuers, BNPL providers now, trusted by senior investment management. Companies, top crypto exchanges, and most of them are high-end Fintech. The company is accelerating its market leadership in telecom, gaming, e-commerce markets and the public sector. Soccer’s clients have invested in the company, including City Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, Voyeger and Syncroni. Other Markie customers include Chime, Sophie, Vero Money, Public, Stash and DraftKings.
With more than a year-over-year increase of 500% in registration, 221% year-over-year, Sokure has emerged as the clear leader in all industries, providing the most credible identification and fraud platform in all industries. And five consecutive quarterly annual growth records. Over the past quarter, Socure has achieved an industry-leading net retention rate of 179%, with Socure fully documenting anti-fraud, equipment, KYC, AML, and documentation by deploying a wide range of soy products. Verification Forum.
Many businesses and government agencies are scrambling to decentralize, but identity theft continues to plague mankind. Private Sector, Jevlin Strategy and Research By 2020, there is a total loss of identity fraud in the United States. $ 56B. And in the public sector, by 2020, identity fraud was the only loss to unemployment. $ 400 b.
In the race to digitalis, enterprises need to accelerate their growth with new customers in order to remain competitive. In particular, more than 45 million Americans, especially young, 18-25 year olds and immigrants, who are difficult to identify. Due to Socure’s KYC’s unparalleled accuracy and inclusiveness, if used exclusively throughout the country’s financial services industry, soccer technology could double the number of automated verifications for this population each year compared to Inheritance Solutions in the US each year. .
Highlights of Socrates Technology Leadership
Socrates has developed the most comprehensive identity graph in the industry, with more than eight billion records and more than 700 million identities, both good and bad, to achieve the most accurate identification.
The Sigma Sigma Identity Fraud Solution provides the most accurate identity fraud model using more than 17,000 features — user name, email, phone, address, IP, DOB, SSN, device, speed, network information, and real-time collaborative feedback Data – all in one product. It also increases the cost of automatic approval by up to 60% due to the accuracy of industry leader placement, and reduces fraud by 90% to the most dangerous 3%, solving fraud and revenue generation for the only product on the market.
Sociological forecast document verification solution uses industry-leading patent-pending machine learning classification models that use inputs from computer vision algorithms;
Socure’s proprietary KYC solution provides industry leading auto-approval rates of up to 98% for the general public, and up to 94% for those who are difficult to identify, such as Gen Z, millennial, credit invisible, thin file, gender neutral, and new-to-country. .
Johnny Ayers, founder and CEO, Socure
“As a market leader, when you get your seat at the table, you go from being a strategic partner to the best companies in the world, from attacking and replacing existing ones. With this additional capital, we will significantly increase the speed and robustness of business to solve complex customer and social problems by maintaining our day-to-day thinking and attracting the best in the market, data science and engineering. Incredibly talented team. We will continue to focus on laser in our mission to ensure 100% good identities and avoid online fraud, we are working with high quality standards and Socure is the highest performing company in the industry.
John Locke, Agar, Asel
“Every team that builds digital products faces user and security challenges. The Socure API quickly became the basis for these groups. The forum has changed the identity market, and we look forward to expanding our support for Johnny Iris and the team.
Andrew Davis, Director of Private Investments, T. Rowe Price Associates, Inc.
“With its unique technology and strong leadership team, Socure is well on its way to long-term growth as a leader in identity verification and fraud on the Internet. We are happy to express our faith.
Merritt Hummer, Partner, Bain Capital Ventures
“Socure has emerged as a clear leader in online identity verification. Although Socure started vertically in financial services, it does not end there; And it gives us confidence that it is the default choice in this increasingly important market.
John Curtis, partner, Tiger Global
“Sukure’s proprietary approach to AI and ML dramatically improves financial inclusion, democratizes access to services and benefits, and eliminates unfair, biased conflicts.
Healthy It is a leading platform for digital identity verification and trust. Its forecasting analytics platform applies artificial intelligence and machine learning techniques to real-time identification of reliable online / offline information from email, phone, address, IP, device, speed and broad internet. The company has more than 750 customers in the financial services, gaming, healthcare, telecom and e-commerce industries, four of the five major banks, seven of the top 10 card issuers, and three of the top MSBs. Top Credit Bureau, Top Online Gaming Operator, Maximum Buy Now, Pay Later (BNPL) Providers and over 100 large fintex. Marquee customers include Chime, SoFi, Varo Money, Public, Stash and DraftKings. Soccer’s clients have invested in the company, including City Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, Voyeger and Syncroni. Additional investors Accel, funds and by T. Rowe Price Associates, Inc., Bain Capital Ventures, Tiger Global, Commerce Ventures, Flint Capital, Scale Venture Partners, Sorenson, Two Sigma Ventures and more.
Sokre has won numerous industry awards and accolades, including nominations for his work 2021 Forbes Cloud 100 list, Forbes Fintech 50 List 2021, And Forbes America’s Best Startup Employers 2021, Is being renamed. CB insights clear fintech 250 Awarded for the third year in a row The best new technology introduced in the last 12 months: information and data services In 2020 American Financial Technology Awards (AFTAs), are being rated. No. 70 In Deloitte Technology Fast 5002, as a Gartner Cool Seller, Recognized. Forbes As one Must See 25 Advanced Machine Learning Startup, And you are being rewarded. Finovate Award AI / ML Best UsageTo name a few. Founder and CEO Johnny Ayers is recognized as one of Goldman Sachs The 20 Amazing Entrepreneurs of 2021.