Security News > 2021 > March > Identity Verification Company Socure Raises $100 Million at $1.3 Billion Valuation
Digital identity verification firm Socure this week announced raising $100 million in a Series D funding round.
The round, which brings the total invested into the company to $196 million, was led by Accel, with participation from Commerce Ventures, Scale Venture Partners, Flint Capital, Citi Ventures, Wells Fargo Strategic Capital, Synchrony, Sorenson, and Two Sigma Ventures, among others.
"The Socure team accurately predicted the immediate need for identity verification solutions in industries like banking and fintech, and we're excited by the tremendous opportunity as Socure expands to support new industries."
The term "Unicorn" was originally assigned to companies that had a valuation of over $1 billion because they were so rare.
Socure provides a predictive analytics platform that leverages AI, machine learning and data intelligence to verify identities in real time.
The solution is designed to help organizations detect identity fraud risk, eliminate synthetic identity fraud, meet compliance requirements, and perform risk-based document verification.