U.S.-based identity verification and fraud prevention company Socure announced that it raised $156 million in a strategic growth investment at a valuation of $5.2 billion. At the same time, the company revealed that it had acquired Fravity, an Austin-based startup developing a platform powered by artificial intelligence agents for investigating fraud, risk and compliance.
Summit Partners led the investment round, which includes primary financing and a secondary offering of employee shares, with participation from Goldman Sachs Alternatives, Wells Fargo, Docusign and others. Socure did not disclose the terms of the Fravity acquisition, nor did it break out the value of the primary portion of the investment from the value of the shares sold by employees.
Funding Comes Alongside Business Expansion
Socure said that its total disclosed funding raised since its founding in 2012 has exceeded $742 million. The company was valued at approximately $4.5 billion during its Series E round in 2021. It said it ended the second quarter of 2026 with annual recurring revenue of $364 million, up 63% year over year, and added 95 customers during the quarter, including Circle, Cox Automotive, MoneyLion and Login.gov.
The company also says it is growing profitably and that its customer base has surpassed 3,000 organizations, including 19 of the 20 largest banks in the United States, more than 600 fintech companies, operators of betting platforms and prediction markets, as well as 160 public-sector organizations. Customers mentioned include Capital One, Citi, Chime, Robinhood, DraftKings and Revolut. Socure’s revenue relies on a software-as-a-service model that combines usage-based and transaction-based fees.
What Does Fravity Add?
Fravity’s technology will be integrated into Socure’s platform under the name RiskOS_Agents, with the first phase focused on screening and monitoring watchlists, and verifying corporate activities, known as Know Your Business procedures. The two companies said that joint enterprise customers are already using both products.
According to data provided by the companies, Fravity applications reduced the cost per case by 80%, accelerated case resolution fivefold and reduced false positives by up to 70%. The material does not include independent details about how these results were calculated or the scope of the customer base on which they were based.
Why Does This Matter?
The deal places Socure closer to automating the investigation stage that follows when AI-powered fraud prevention systems detect a case or alert requiring human review. The company cites an estimate from Liminal that puts the financial crime investigations market at $71.1 billion, while the study says that 53% of banks spend at least one hour reviewing each alert and that 37% manually review more than 40% of alerts.
At the same time, Socure says its network saw an 8,000% increase in AI-powered fraud over the past year. This figure is attributed to the company and reflects its account of the growing use of generative AI to create fake identities and automated attacks, rather than a comprehensive independent measurement of the market.
Chief executive and co-founder Johnny Ayers believes that AI creates an opportunity and a problem at the same time: It increases the complexity of fraud, but it may also help address the investigation burden in cases detected by automated systems. In practice, the deal means expanding Socure’s role from customer identity verification to supporting risk and compliance teams in analyzing cases. The success of this approach will remain tied to the agents’ accuracy and the auditability of their decisions, points on which the company provided no additional details in the announcement.
Expansion Beyond Financial Services
The deal follows Socure’s expansion beyond its financial services roots. In May 2026, the company won a five-year, $163 million U.S. federal contract to provide identity-proofing technologies for the Login.gov platform, and it said it was pursuing international expansion. Its employee count exceeded 550 in March 2026, an increase of more than 100 employees in roughly a year.