How Much Did Socure Raise? Funding & Key Investors

Date
March 25, 2025
Socure

Total amount raised

$744.4 Millions

Latest funding date

Socure

Location

Title

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Socure has successfully raised significant funding across multiple rounds, positioning itself as a leader in digital identity verification. The platform leverages advanced AI to enhance risk and trust decisions, offering a suite of solutions for identity verification, fraud detection, and AML compliance.

Keep reading to explore the intricacies of Socure's fundraising journey and the investors backing this innovative platform.

What Is Socure?

Founded in 2012 by Johnny Ayers and Sunil Madhu, Socure is headquartered in Incline Village, Nevada. The company specializes in digital identity verification, fraud prevention, and risk management solutions.

Socure leverages advanced AI to power risk and trust decisions, enabling businesses to approve more trusted consumers. Their platform includes solutions for identity verification, fraud detection, AML compliance, and trust management.

With a team of 501-1000 employees, Socure continues to innovate in the field of predictive analytics, providing comprehensive tools to enhance digital identity verification and fraud prevention.

How Much Funding Has Socure Raised?

  1. Series A
    • Amount Raised: $2.5M
    • Date: August 28, 2015
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To develop and enhance their digital identity verification platform.
  2. Debt Financing
    • Amount Raised: $2.5M
    • Date: August 4, 2015
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support operational expenses and initial growth.
  3. Series A
    • Amount Raised: $13M
    • Date: December 13, 2016
    • Lead Investors: Flint Capital
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To scale the business and expand market reach.
  4. Series B
    • Amount Raised: $13.9M
    • Date: July 24, 2017
    • Lead Investors: Commerce Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To accelerate product development and market expansion.
  5. Series C
    • Amount Raised: $30M
    • Date: February 28, 2019
    • Lead Investors: Scale Venture Partners
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To enhance AI capabilities and expand customer base.
  6. Series C
    • Amount Raised: $35M
    • Date: August 25, 2020
    • Lead Investors: Sorenson Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To further develop fraud detection solutions and expand into new markets.
  7. Series D
    • Amount Raised: $100M
    • Date: March 16, 2021
    • Lead Investors: Accel
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To scale operations and invest in new technologies.
  8. Venture Round
    • Amount Raised: Not publicly disclosed
    • Date: June 3, 2021
    • Lead Investors: Capital One Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support strategic growth initiatives.
  9. Series E
    • Amount Raised: $450M
    • Date: November 9, 2021
    • Lead Investors: Accel, T. Rowe Price
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To expand product offerings and enter new verticals.
  10. Debt Financing
    • Amount Raised: $95M
    • Date: March 8, 2023
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To strengthen financial position and support strategic acquisitions.

Total Amount Raised: $741.9M. Current Valuation: Not publicly disclosed.

Key Investors

  • Accel
    • Details: Accel is a global venture capital firm that partners with exceptional entrepreneurs to build world-class businesses. They have a strong track record of investing in early-stage and growth-stage companies.
    • Investment Focus Areas: Technology, internet, software
    • Notable Investments: Facebook, Dropbox, Slack
  • T. Rowe Price
    • Details: T. Rowe Price is a global investment management firm dedicated to helping clients achieve long-term success. They offer a broad range of mutual funds, subadvisory services, and separate account management.
    • Investment Focus Areas: Technology, healthcare, financial services
    • Notable Investments: Tesla, Amazon, Google
  • Commerce Ventures
    • Details: Commerce Ventures is a venture capital firm focused on investing in companies that are transforming commerce. They support startups in the fintech, retail tech, and insurance tech sectors.
    • Investment Focus Areas: Fintech, retail tech, insurance tech
    • Notable Investments: Marqeta, Bill.com, Socure
  • Scale Venture Partners
    • Details: Scale Venture Partners is a venture capital firm that invests in early-in-revenue technology companies. They focus on companies that are driving the future of work, cloud computing, and digital transformation.
    • Investment Focus Areas: SaaS, cloud, enterprise software
    • Notable Investments: Box, DocuSign, HubSpot
  • Sorenson Ventures
    • Details: Sorenson Ventures is a venture capital firm that invests in early-stage enterprise software and security companies. They aim to support innovative startups that are solving critical business problems.
    • Investment Focus Areas: Technology, healthcare, consumer products
    • Notable Investments: Health Catalyst, HireVue, Pluralsight

What's Next for Socure?

Socure stands at the cusp of significant growth opportunities, driven by the increasing demand for real-time identity verification across various sectors. With a robust customer base that includes major banks, fintechs, and government entities, the company is well-positioned to expand its market-leading capabilities. The recent $95 million credit facility will further bolster its financial strength, enabling investments in new solutions and strategic acquisitions.

Future fundraising efforts are likely to be buoyed by the company's strong market position and the growing need for advanced fraud prevention solutions. However, Socure will need to navigate challenges such as maintaining its competitive edge and ensuring the scalability of its verification systems. As the industry evolves, staying ahead of regulatory requirements and emerging fraud techniques will be crucial for sustained success.

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