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Socure Raises $30 Million in Additional Financing

Socure Raises $30 Million in Additional Financing
Credit: socure.com

Identity verification and fraud prevention services provider Socure acquired $30 million in a Series C funding round led by Scale Venture Partners, bringing Socure’s total funding to $57.5 million. Previous investors Commerce Ventures, Flint Capital, Two Sigma Ventures, and Synchrony, as well as new investor Sorenson Capital, also participated in the round. The company also announced that Rory O’Driscoll, partner at Scale Venture Partners, is joining its board of directors.

Socure’s mission is to become the single trusted source of identity verification and to eliminate third-party identity fraud. Last year, Socure was named a Cloud 100 Rising Star by Forbes, an Innovator for Identity Proofing by research firm International Data Corporation, and a Red Herring 100 North America Winner.

The company plans to use the funding to accelerate its market expansion through new investments in sales, marketing, research and development, and customer support initiatives.