Socure raises $156m at $5.2bn valuation and acquires Fravity

Identity verification and fraud prevention company Socure has raised $156m in a strategic growth investment led by Summit Partners, with participation from Goldman Sachs Alternatives, Wells Fargo and Docusign. The round values the company at $5.2bn and includes both primary capital and a secondary tender offer for employees.

Socure has also acquired Austin-based agentic AI startup Fravity, which automates fraud, risk and compliance investigations. The technology will be integrated into Socure’s RiskOS platform as RiskOS_Agents, initially focusing on watchlist screening and know-your-business checks.

The company said it ended the second quarter with $364m in annual recurring revenue, up 63% year on year, and added 95 customers during the quarter. It claims to be growing profitably and has more than 3,000 enterprise customers, including 19 of the 20 largest US banks.