Venture Capital, Santander InnoVentures and Two Sigma Ventures, took part as well in the funding rund. The company will use the capital to scale operations, accommodating the 300% growth it has seen in 2016. Furthermore, the funds will enable Socure to innovate its digital identity verification platform, and continue to deliver the most predictive solution in the industry.
The company is reimagining digital identity verification by creating easily integrated SaaS solutions that increase consumer acceptance, reduce uncaught fraud, and contain the costs of manual review. Since its inception, Socure has established itself as a pioneer in the space, offering RESTful APIs delivered via a secure and scalable cloud-based software infrastructure, to validate identities in real-time.
The announcement comes on the heels of a momentous release of ID+, the company’s flagship product for consumer verification. Their patented platform and ID+ solution has been proven to increase fraud capture by up to 80%, and provide comprehensive KYC and AML compliance for verifying individuals in a global environment.
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