Security News > 2021 > March > Socure raises $100M to expand across the digital identity market and boost product innovation

Already the leader in financial services, the new financing will support Socure's rapid expansion across every consumer-facing vertical including online gaming, healthcare, telco, e-commerce, and on-demand services.

"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."

"We are honored to be working with Accel and our existing investors as we further our mission to ensure 100% trusted identity for every application and transaction on the Internet," said Johnny Ayers, Co-founder and CEO of Socure.

With Socure, B2C enterprises can achieve KYC auto-approval rates of up to 97%, as well as identity and synthetic fraud capture rates of up to 90% in just the riskiest 2% of users.

"The market opportunity for digital identity is huge," said Dan Rosen, Founder and General Partner at Commerce Ventures and Board Member of Socure.

"Congratulations to Johnny, Pablo, and the entire Socure team for reaching this milestone as it will certainly catapult the company into its next phase of growth. We are excited to see what Socure does next."

News URL

http://feedproxy.google.com/~r/HelpNetSecurity/~3/3v4HwKmMOTI/