Socure, an AI-powered identity verification and fraud prevention platform, has raised $156 mn in a Series E extension at a $5.2 bn valuation. Summit Partners led the round, with participation from Goldman Sachs Alternatives, Wells Fargo and Docusign.
The financing combines primary capital with a secondary tender offer for employees. Socure’s latest valuation is 15.6% above the $4.5 bn valuation reached in its November 2021 Series E.
Alongside the funding, Socure acquired Fravity, an agentic AI startup focused on automating fraud investigation workflows. Fravity’s technology includes more than 70 specialized AI agents used to collect evidence and support fraud case analysis.
Socure plans to integrate the acquired technology into its RiskOS platform under the RiskOS_Agents name. Initial applications include watchlist screening, ongoing monitoring and know-your-business checks.
RiskOS combines identity verification, fraud detection and compliance functions within one platform. Socure says the system processes approximately 10 bn identity and risk decisions annually.
The company reported annual recurring revenue of $364 mn, up 63% year over year. Net dollar retention stands at 133%, while reported customer logo churn is 0.01%.
Socure serves more than 3,000 customers across over 190 countries. Its customer base includes the five largest US banks, four of the Magnificent Seven technology companies and more than 160 government agencies.
More than 600 fintech companies also use Socure’s products. The company employs more than 550 people and has raised more than $742 mn since its founding.
Socure was established in 2012 by Johnny Ayers, Bradley S. Leinhardt and Sunil Madhu. Its original focus was AI-based identity verification for financial services onboarding.
The company raised $100 mn in a Series D at a $1.3 bn valuation in March 2021. A $450 mn Series E followed in November of that year, valuing Socure at $4.5 bn.
Socure has also expanded through acquisitions. It bought document verification company Berbix for $70 mn in 2023 and risk decisioning provider Effectiv for $136 mn in 2024.
In May 2026, the company secured a five-year federal contract worth $163 mn to provide identity-proofing technology for Login.gov. Socure has since expanded its government business alongside its financial services customer base.
CEO and co-founder Johnny Ayers said AI has changed the economics of fraud and compliance operations. He said combining data, models, decisioning and autonomous agents inside RiskOS gives Socure a broader operating system for identity and fraud management.
The company says AI-generated fraud attempts across its network have increased 8,000%. Socure argues that this growth is making manual review increasingly expensive for banks and other organizations handling large volumes of fraud alerts.
According to figures cited by Socure, US organizations spend about $100 bn annually on internal and outsourced fraud, compliance and risk teams. The company also says 53% of banks spend more than an hour reviewing each alert, while 37% manually examine more than 40% of their queues.
The new funding will support product development and international expansion. Socure also plans to continue integrating Fravity’s agents into RiskOS as overseas transaction volumes account for a growing share of its network.
