Socure, a New York City-based provider of identity verification and fraud prevention services, raised $30m in Series C funding.
The round, which brought total funding to $57.5m, was led by Scale Venture Partners, with participation from Commerce Ventures, Flint Capital, Two Sigma Ventures and Synchrony, as well as new investor Sorenson Capital. In conjunction with the funding, Rory O’Driscoll, partner at Scale Venture Partners, is joining its board of directors.
The company plans to use the new funding to accelerate its market expansion through new investments in sales, marketing, research & development and customer support initiatives.
Founded in 2012 and led by Tom Thimot, CEO, Socure provides a digital identity verification technology platform which applies artificial intelligence and machine-learning techniques with online/offline data intelligence from email, phone, address, IP, social media and the broader Internet to authenticate identities in real-time.
The company also bolsters CIP/KYC programs and AML compliance for enterprises in the US to reduce fraud and lower manual review costs.