Socure Raises $156M, Acquires AI Fraud Startup

Identity verification firm Socure has secured $156 million in strategic growth funding at a $5.2 billion valuation, led by Summit Partners with participation from Goldman Sachs, Wells Fargo and DocuSign. The company simultaneously acquired agentic AI startup Fravity AI in a separate undisclosed deal. Fravity's technology, rebranded as RiskOS_Agents, automates manual compliance case reviews by retrieving documents, running sanctions screening and drafting case summaries. Socure claims existing deployments cut cost per case by 80%, resolved cases five times faster and reduced false positives by up to 70%. Customers include the top five U.S. banks and over 160 public sector organizations.