Socure company profile: valuation, funding & revenue

This Socure company profile covers the company's valuation, revenue, funding rounds, investors and history. Socure works in fintech, with a focus on identity verification and fraud prevention. It was founded in 2012 and is headquartered in Incline Village, Nevada, United States. Its latest valuation on record is US$5.2 billion (August 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Socure timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2012 — Socure is founded in Incline Village by Johnny Ayers (CEO) and Sunil Madhu.
• Nov 2021 — Series E: US$450M, valuing the company at US$4.5B.
• Aug 2026 — Series E extension: US$156M (primary and employee tender), valuing the company at US$5.2B. Investors: Summit Partners (lead); Goldman Sachs Alternatives, Wells Fargo, DocuSign and others.

Investors

Overview

Socure provides digital identity verification and fraud prevention to banks, fintech companies, government agencies, online marketplaces and other businesses. When someone opens a bank account, applies for a loan, claims government benefits or signs up for a service online, Socure's platform checks whether the person is who they claim to be, assesses whether the application looks fraudulent and screens against watchlists, typically in seconds. It uses machine learning trained on large volumes of identity data and fraud outcomes across its customer network. In August 2026 it was valued at US$5.2 billion after a funding round led by Summit Partners, and it announced the acquisition of Fravity, an AI agent company for fraud and compliance work.

Johnny Ayers, the CEO, and Sunil Madhu founded Socure in 2012. Ayers started in the company's early days focused on using online and social data to verify identities, before the company shifted to the broader approach of combining many data sources with machine learning. Reuters has described the company as based in Incline Village, Nevada; it also has large operations in New York and other locations.

Products

• Identity verification: checks names, addresses, dates of birth, phone numbers, emails and other details against many data sources to confirm identities.
• Document verification: checks photographed ID documents and matches them with selfies.
• Fraud risk scoring: models that identify synthetic identities, stolen identities and first-party fraud.
• Watchlist and compliance screening: sanctions and politically exposed person checks for know-your-customer (KYC) rules.
• RiskOS: a platform for orchestrating identity, fraud and compliance decisions, including transaction monitoring from its Effectiv acquisition.
• RiskOS Agents: AI agents, built on Fravity's technology, that help investigators and compliance teams review cases.

Funding

Socure raised from investors including Accel, Tiger Global, T. Rowe Price, Commerce Ventures and others. In November 2021 it raised a US$450 million Series E at a US$4.5 billion valuation. Nearly five years later, in August 2026, it raised US$156 million in a Series E extension at a US$5.2 billion valuation, led by Summit Partners with Goldman Sachs Alternatives, Wells Fargo, DocuSign and others. The round included new primary capital and a tender offer that let employees sell shares; the split wasn't disclosed.

Acquisitions

Socure has used acquisitions to broaden its platform. In 2024 it bought Effectiv, a risk decisioning and transaction monitoring platform, from Ingo Payments. In 2026 it acquired Fravity, an agentic AI platform for fraud and compliance work, with financial terms undisclosed; Fravity's technology is being integrated into RiskOS. These deals move Socure from point checks at sign-up towards managing risk across the whole customer lifecycle.

Business model

Socure charges customers mainly per verification or per decision, with enterprise contracts that commit to volumes. Large banks, fintechs and government agencies generate high volumes, and Socure's network improves as more customers report fraud outcomes, which helps its models detect patterns. Platform features such as orchestration and case management add recurring software revenue on top of transaction fees.

Competition

Socure competes with identity and fraud companies such as LexisNexis Risk Solutions, Experian, TransUnion, Equifax, Alloy, Persona, Trulioo, Onfido (Entrust), Jumio, Prove and Sardine. Its strengths are model accuracy at scale, a large customer network across financial services and government, and an expanding platform.

Socure at a glance

Socure is a US identity verification and fraud prevention company founded in 2012 by Johnny Ayers and Sunil Madhu. It serves banks, fintechs, government agencies and other businesses through its RiskOS platform. It was valued at US$4.5 billion in 2021 and US$5.2 billion in an August 2026 Series E extension led by Summit Partners, and it has acquired Effectiv and Fravity.

Timeline

• 2012: founded.
• 2018–2020: grows with banks and fintechs as digital account opening spreads.
• 2020–2021: supports government agencies facing benefits fraud during the pandemic.
• November 2021: raises US$450 million at US$4.5 billion.
• 2024: acquires Effectiv.
• August 2026: raises US$156 million at US$5.2 billion and acquires Fravity.

Why identity fraud keeps growing

As more financial services move online, criminals use stolen data from breaches, synthetic identities that combine real and fake details, and increasingly AI-generated documents and deepfake selfies to open accounts and take out loans. Government benefits programmes were heavily targeted during the pandemic. Companies must stop fraud without rejecting genuine customers, since every extra check adds friction and can lose good applicants. Better data and models let firms approve more real people instantly while catching more fraud, which is the core of Socure's pitch.

Who uses Socure

Socure's customers include large US banks, credit card issuers, fintech companies, payment firms, online gaming and marketplace companies, and federal and state government agencies.

Valuation context

Socure's valuation rose modestly from US$4.5 billion in 2021 to US$5.2 billion in 2026, unusual at a time when many companies that raised in 2021 took down rounds. Strategic participation from banks and DocuSign suggests customers and partners see long-term value in its platform.

Risks

• AI-driven fraud: deepfakes and generative AI make fraud harder to detect.
• Privacy regulation: rules on data use can affect identity verification.
• Competition: credit bureaus and specialists compete on price and accuracy.
• Integration: acquisitions must be combined smoothly into one platform.

Questions for buyers

• What approval and fraud capture rates can you expect for your customer base?
• How does the system handle deepfake and synthetic identity attacks?
• Which compliance requirements does it help meet in your jurisdictions?

Government identity and benefits

During the pandemic, unemployment and benefits programmes in the US were hit by large-scale fraud, with criminals using stolen identities to file claims. Many state agencies brought in identity verification providers, including Socure, to screen applications. Government work has since become an important part of Socure's business, though it brings scrutiny over accuracy, bias and accessibility, since wrongly rejecting a genuine applicant can deny someone support they need.

Latest developments (October 2026)

Socure took a strategic investment valuing it at US$5.2 billion in September 2026, led by Summit Partners with Goldman Sachs Alternatives, Wells Fargo and Docusign, and acquired the agentic compliance platform Fravity, according to FF News. The identity verification company reported total annual recurring revenue of US$364 million in the second quarter of 2026, up 63% from a year earlier, according to its results summarised by 01net. See our largest private fintech guide.

What to watch

Watch AI agent adoption, government contracts, IPO plans and further acquisitions. Our guide to the largest private fintech companies covers related firms.

Takeaways

Banks and fintechs can use Socure to verify customers and fight fraud. Founders can see how network effects in data improve AI models. Investors should watch how it keeps up with AI-driven fraud.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. The Star (Reuters)
2. Beinsure