Cooley LLP advised Socure on the deal.
Socure, a predictive analytics platform for digital identity verification, announced its $100 million Series D financing round, which brings the company’s valuation to more than $1 billion.
Accel led the round, which also included participation from existing investors Commerce Ventures, Scale Venture Partners, Flint Capital, Citi Ventures, Wells Fargo Strategic Capital, Synchrony, Sorenson, Two Sigma Ventures and others. Socure will use the new capital to support rapid expansion across every consumer-facing vertical, as well as accelerate product innovation as its patent portfolio continues to grow.
Using AI and machine learning, Socure enables companies to verify identities in order to validate users and security online. The company has more than 350 customers across the financial services, gaming, telecom and ecommerce industries, including three top-five banks, six top-10 card issuers, the top credit bureau and 75+ of the largest and most successful fintech companies, such as Varo Money, Public, Chime and Stash.
The Cooley team included Sacha Ross (Picture), Ariel Rom, Adam Alperowicz, Alex Abelson, Terry Kim, Megan Browdie, Rubin Waranch, Chris Kimball and Dillon Martinson.
Involved fees earner: Alex Abelson – Cooley LLP; Adam Alperowicz – Cooley LLP; Megan Browdie – Cooley LLP; Terry Kim – Cooley LLP; Christopher Kimball – Cooley LLP; Dillon Martinson – Cooley LLP; Ariel Rom – Cooley LLP; Sacha Ross – Cooley LLP; Rubin Waranch – Cooley LLP;
Law Firms: Cooley LLP;