Socure speeds up the mission of identifying identities and eliminating identity fraud in industries.

By Edlin Cardoza


  • Add
  • AML
  • Digital identity verification

Socure, Lead Provider Digital identity verification And Fraud Solutions announces a $ 450 million round of $ 4.5 billion worth of equity from a number of global growth equity and public market investors. Seven months after the company made a $ 1.3 billion CrDD, it earned $ 4.5 billion. Verification location.

Round by T. Rowe Price Associates, Inc. is part of Axel’s e-commerce series with advice funds and accounts. It also includes two new investors, Bain Capital Ventures and Tiger Global and existing investors, Commerce Ventures, Scale Venture Partners. And Sorenson Ventures.

Across the digital consumer market, Socrates is accelerating its investment in product innovation to address identity challenges, tackle new markets, and attract and retain the best production, data science and engineering teams in the world. The capital, Socrates, will increase the amount of customer information and information and a fully automated ID + platform to prevent the risk of third-party and man-made fraud and address charges and third-party fraud, and to create a world-class self-service analysis capability.

Socure ID + has become the preferred identity and scam platform for enterprises of all sizes and is trusted by four of the five largest banks, seven out of ten major credit card issuers. Buy now, pay later. (BNPL) providers, top investment management organizations, top crypto exchanges, and most of the top FinTechs. The company is accelerating its market leadership in telecom, gaming, e-commerce markets and the public sector. Soccer’s customers have also 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.

Socrates has emerged as a clear leader in the industry, providing a high level of credibility and fraud in all industries. He withdrew from the competition with 500% annual registration, 221% annual customer growth and five consecutive quarterly revenue growth. Over the past quarter, the company has deployed a wide range of soy products in various sectors, with Sokure’s full anti-fraud tool KYC, AML and Document certified by zero-close, earning 179% of the industry leader’s net retention rate. Forum.

Many businesses and government agencies are scrambling to decentralize, but identity theft continues to wreak havoc. According to Jevlin Strategy and Research, the private sector in the United States will lose a total of $ 56 billion by 2020. In the public sector, by 2020, fraud alone will cost $ 400 billion. John Locke, Partner, Aceel, “Every digital product development team 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.

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 45 million + US citizens 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. .

Johnny Airs is the founder and CEO of Soccer “As a market leader, when you get your seat at the table, you go from being a strategic partner to one of the best companies in the world, from attacking and replacing existing ones. With this additional capital, we will significantly increase the speed and strength 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, maintain ourselves to the highest standards and work with Socure as the highest performing company in the industry.

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