Security Startup Socure Raises $13.9 Million

Socure announced it has secured $13.9 million in Series B financing. Six investors participated in the round, among them Commerce Ventures, Flint Capital, Work-Bench Ventures, Santander InnoVentures, and Two Sigma Ventures.

Socure is a New York-based software company that provides consumers and businesses with a next-generation security SaaS solution to fight against the risk of identity theft and related fraudulent activities. It enables next-generation multi-factor authentication by applying machine learning techniques with biometrics and data intelligence from email, phones, IP, social media, and the broader Internet. The company capitalizes on alternative data that has proven to provide better fraud prediction capability.

The company revealed that the new round will enable Socure to scale sales and support operations, build out its infrastructure and drive market expansion.