How Much Did Socure Raise? Headquarters, Funding & Key Investors

Socure has raised $2.5 M in its initial Series A (Aug 2015), another $13 M in Series A (Dec 2016), $13.9 M in Series B (Jul 2017), $30 M in Series C (Feb 2019), $35 M in another Series C (Aug 2020), $100 M in Series D (Mar 2021) and $450 M in Series E (Nov 2021), bringing total funding to approximately $650 M. These rounds, backed by firms such as Accel and T. Rowe Price, have enabled Socure to scale its AI-based identity verification, fraud detection and risk-management platform across banking, fintech and enterprise sectors.

How Much Did Socure Raise? Funding & Key Investors

Socure, founded in 2012 by Johnny Ayers and Sunil Madhu, is a New York City-based (United States) AI-native cybersecurity and RegTech company. With a current team of about 88 employees (as of March 31 2022), it offers machine-learning-driven identity verification, onboarding, document verification, fuzzy-name matching and NLP-based adverse-media screening. The platform is used by banks, fintechs and other enterprises to validate real identities, detect fraud and automate compliance workflows in a digital-first world.

What Is Socure and What Does It Do?

Socure, founded in 2012 by Johnny Ayers and Sunil Madhu, is a New York City-based (United States) AI-native digital identity and fraud-prevention company. The company develops and operates a platform that provides identity verification, onboarding, document authentication, fraud detection, fuzzy name matching, and natural language processing tools for adverse media screening.

Socure employs between 501-1000 people and serves banks, fintechs, e-commerce and other digital-first enterprises. Its architecture uses large-scale public and private data sets, advanced machine-learning models and real-time decisioning to help customers approve good identities, block fraud, and manage regulatory risk.

How Much Funding Has Socure Raised?

1. Series A

Amount Raised: $2.5 M
Date: August 2015
Motivation: To develop and enhance their digital identity verification platform.

2. Debt Financing

Amount Raised: $2.5 M
Date: August 2015
Motivation: To support operational expenses and initial growth.

3. Series A (Second)

Amount Raised: $13 M
Date: December 2016
Lead Investors: Flint Capital
Motivation: To scale the business and expand market reach.

4. Series B

Amount Raised: $13.9 M
Date: July 2017
Lead Investors: Commerce Ventures
Motivation: To accelerate product development and market expansion.

5. Series C

Amount Raised: $30 M
Date: February 2019
Lead Investors: Scale Venture Partners
Motivation: To enhance AI capabilities and expand customer base.

6. Series C (Second)

Amount Raised: $35 M
Date: August 2020
Lead Investors: Sorenson Ventures
Motivation: To further develop fraud-detection solutions and expand into new markets.

7. Series D

Amount Raised: $100 M
Date: March 2021
Lead Investors: Accel
Motivation: To scale operations and invest in new technologies.

8. Series E

Amount Raised: $450 M
Date: November 2021
Lead Investors: Accel, T. Rowe Price
Motivation: To expand product offerings and enter new verticals.

9. Debt Financing

Amount Raised: $95 M
Date: March 2023
Motivation: To strengthen financial position and support strategic acquisitions.

Total Funding Raised: $650 Million

Current Valuation: $4.5 Billion (as of Nov 2021)

Latest Funding Date: March 2023

Key Investors

1. Accel

Details: Global venture capital firm specialising in growth-stage technology companies.
Investment Focus Areas: Enterprise software, cybersecurity, fintech, SaaS.
Notable Investments: Facebook, Slack, Dropbox, Socure.

2. T. Rowe Price

Details: Global investment management firm offering mutual funds, separate account management and institutional investments.
Investment Focus Areas: Technology, healthcare, financial services.
Notable Investments: Amazon, Google, Socure.

3. Commerce Ventures

Details: Venture capital firm focused on fintech, retail tech and insurance tech sectors.
Investment Focus Areas: Fintech, retail tech, insurance tech.
Notable Investments: Marqeta, Bill.com, Socure.

4. Scale Venture Partners

Details: Growth-stage venture firm investing in early-revenue tech companies driving cloud, SaaS and digital transformation.
Investment Focus Areas: SaaS, cloud computing, enterprise software.
Notable Investments: Box, DocuSign, HubSpot, Socure.

5. Sorenson Ventures

Details: Venture capital firm investing in early-stage enterprise software and security companies.
Investment Focus Areas: Technology, healthcare, consumer products.
Notable Investments: Health Catalyst, Pluralsight, Socure.

Where Is Socure’s Headquarters?

Socure is headquartered in New York City, United States. Being located in one of the world’s leading finance and fintech hubs offers strong access to banks, financial-services clients, talent in AI and risk analytics, and regulatory/industry partnerships critical for its identity-verification and fraud-prevention business.

What’s Next for Socure?

Socure is positioned to deepen its enterprise footprint beyond banking into payments, gaming, crypto and government identity platforms. With its recent $95 M debt raise and strong backing, the company plans strategic acquisitions, global expansion and product innovation (including transaction-level AML/fraud orchestration).

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