Socure emerged as a clear market leader and a highly valued private company.
New York, November 09, 2021– (Business wire–HealthyThe leading provider of digital identity verification and fraud solutions has announced that it is the highest grossing equity investor in the world at $ 4.5 B worth 450M round. Seven months after the $ 1.3B Series D, with a 500% bond growth and an investment demand of close to $ 1B, Socure is highly regarded by any private company seven months later. Verification location.
This press release contains multimedia. See full description here https://www.businesswire.com/news/home/20211109006037/am/
Johnny Ayers, founder and CEO, Socure. (Photo of BusinessBusiness Wire)
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.
Across the digital consumer market, Socrates will accelerate its investment in product innovation to address identity challenges, enter new markets, including the public sector, and attract and retain the best production, data science and engineering teams in the world. . The capital, Sokure, enhances the scope and knowledge of its customer base information and fully automated ID + platform not only to prevent third-party and man-made fraud, but also to provide a world-class self-service service to address the risk of payment and third-party fraud. Analytical skills.
Socure ID + has become the preferred identity and fraud 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 finx. The company is accelerating its market leadership in telecom, gaming, e-commerce markets and the public sector. Socure customers have become investors 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.
Sokure has emerged as a clear leader with more than 500% of registrations and 221% year-over-year customer growth, providing a highly accepted identity 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 wreak havoc. In the private sector, Jevlin Strategy and Research has seen a total loss of identity fraud in the United States by 2020 $ 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. Unscrupulous, especially young, 18-25 year olds and immigrants, including a group of more than 45 million Americans who are difficult to identify. Because of 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 per year in the US compared to heritage solutions for this population. .
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, good and bad identities, to achieve the most accurate identification.
Secure 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 the industry leader’s classification, and reduces fraud by 90% to the most dangerous 3%, solving fraud and revenue generation for the only product on the market.
Societal 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
“When you become a market leader, when you get your seat at the table, you will be a strategic partner for many of the world’s best companies by repeatedly attacking and replacing existing leaders. With this additional capital, we will work hard. Attracting the attention of our already talented team will increase our business speed and business speed and strength to solve complex customer and social problems.We will stay. We are a high-performance company.
John Locke, Agar, Asel
“Every digital product development team faces user and security challenges. The Soccer API quickly became the basis for these groups. The platform has changed for the ID market, and we look forward to increasing Johnny Iris and the team’s support.”
Andrew Davis, Director of Private Investments, T. Rowe Price Associates, Inc.
“With unique technology and a strong leadership team, Sokure has long been a leader in the fight against identity theft and fraud on the Internet. We believe the company has the potential to grow and grow. We are happy to express our confidence in the investment.
Merritt Hummer, Partner, Bain Capital Ventures
“Socure has emerged as a clear leader in online identity verification. Talking to dozens of customers has convinced us that Socure has gained their trust and is a default choice in this increasingly important market.
John Curtis, partner, Tiger Global
“Soccer’s proprietary approach to AI and ML dramatically improves financial inclusion, democratizes access to services and benefits, and eliminates unfair, discriminatory conflicts, and is a unique platform for companies in many online industries.
Healthy It is a leading platform for digital identity verification and trust. His 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. My clients 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), is being rated. No. 70 In Deloitte Technology Fast 5002, as a Gartner Cool Seller, Recognized. Forbes As one 25 Best Machine Learning Beginners to See, 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 2021 most amazing entrepreneurs of 2021.
Check out the source version on businesswire.com https://www.businesswire.com/news/home/20211109006037/am/