Socure secures USD 450 mln in latest financing round

Wednesday 10 November 2021 13:33 CET | News

US-based Socure has announced its oversubscribed USD 450 million financing round at a USD 4.5 billion valuation from several growth equity and public market investors.

The round is part of a Series E transaction led by Accel alongside funds and accounts advised by T. Rowe Price Associates, Inc. It also includes two new investors, Bain Capital Ventures and Tiger Global, as well as participation from existing investors Commerce Ventures, Scale Venture Partners, and Sorenson Ventures.

Socure will accelerate its investments in product innovation to address identity verification challenges across the digital consumer journey, penetrate new markets including the public sector, as well as continue to attract and retain product, data science, and engineering teams.

The capital will also allow Socure to amplify the scale and intelligence of its customer consortium data and automated ID+ platform to address payment and first party fraud risk while offering self-service analytics capabilities.

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Keywords: funding, online security, digital onboarding, KYC
Categories: Fraud & Financial Crime
Countries: United States
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Fraud & Financial Crime

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