Identity verification and fraud prevention company Socure said it raised $156 million in a strategic funding round valuing the company at $5.2 billion. The Series F round, led by Summit Partners, included participation from Goldman Sachs Alternatives, Wells Fargo and DocuSign, alongside a secondary tender offer for existing shareholders.
The Nevada-based company also announced the acquisition of Austin-based AI startup Fravity, which develops agentic AI platforms for fraud, risk and compliance investigations. Socure did not disclose the financial terms of the deal. The acquisition aims to integrate Fravity’s technology into Socure’s RiskOS platform under the name RiskOS_Agents, initially targeting watchlist screening, monitoring and know-your-business checks.
Socure reported $364 million in annual recurring revenue as of the second quarter, up 63% year-over-year, and added 95 new customers including Circle, Cox Automotive, MoneyLion and Login.gov. The company claims profitable growth and now serves over 3,000 enterprise clients, including 19 of the 20 largest U.S. banks, more than 600 fintech firms and 160 public-sector organizations.
The transactions follow a surge in fraud activity linked to generative AI tools, which Socure said drove an 8,000% increase in AI-driven fraud across its network last year. The company’s CEO Johnny Ayers noted that while AI accelerates fraud risks, it also enables automation to streamline investigations. Fravity’s platform has demonstrated operational improvements, including an 80% reduction in cost per case, a fivefold acceleration in resolution time and a 70% decrease in false positives across deployed environments.
The deal expands Socure’s focus beyond financial services, including a recent $163 million five-year contract with the U.S. government to provide identity-proofing technology for Login.gov. Socure employed over 550 people as of March 2026, up more than 100 from the prior year. The company has raised over $742 million in disclosed funding since its 2012 founding, with its prior valuation reaching $4.5 billion in 2021.
