US identity fintech Socure raises $156 million at $5.2 billion valuation led by Summit Partners

Identity-verification fintech Socure has raised $156 million in a strategic growth investment at a valuation of $5.2 billion, with the financing led by Summit Partners, the company said on Thursday. Additional investors included Goldman Sachs Alternatives, Docusign and Wells Fargo, and the investment was announced alongside Socure's acquisition of Fravity, a firm focused on agentic AI for fraud investigations.

The new round lifts Socure's valuation from the $4.5 billion mark set in its 2021 financing and combines primary capital with a secondary tender offer that provides liquidity to existing employees. The parallel Fravity acquisition extends Socure's product perimeter into automated fraud investigations powered by agentic AI systems.

SUMMIT LEADS AT $5.2 BILLION

Andy Collins, a managing director at Summit Partners, said Socure had built "an AI-native architecture, a deep data advantage and documented outcomes for large enterprise and government customers". The previous $4.5 billion valuation was set in a $450 million Series E round led by Accel and T. Rowe Price in November 2021.

Socure said it closed the second quarter of 2026 with $364 million in total annual recurring revenue, 63% year-on-year ARR growth and more than 3,000 customers.

FRAVITY ACQUISITION EXTENDS AI PLATFORM

The acquisition of Fravity was announced alongside the financing and adds an agent development platform and agentic operations layer to RiskOS, Socure's orchestration and decisioning platform; its capabilities will be delivered as RiskOS_Agents. Socure said Fravity has reduced cost per case by 80% across existing deployments.

Socure's customers include the top five US banks and more than 600 fintechs, according to the company, which provides identity verification, compliance and fraud prevention services across onboarding, authentication, payments and account changes.

"AI broke the economics of fraud and compliance operations, and no institution is going to hire their way out of it," said Johnny Ayers, co-founder and chief executive of Socure. The company said AI-driven fraud attacks rose 8,000% in the past year.