Socure hits $5.2bn valuation on investment; buys AI fraud platform Fravity

Identity verification company Socure Inc. has raised $156 million at a $5.2 billion valuation, investing in agentic artificial intelligence startup Fravity AI. Fravity AI's technology helps Socure by handling manual case reviews, which consume analyst time. The acquisition focuses on areas like document retrieval, sanctions and watchlist screening, and drafting case summaries, leaving analysts with a finished file rather than building one from scratch.

Socure's CEO, Kedar Samant, co-founded the fraud platform Simility, which PayPal acquired in 2018, and now serves as chief executive of Socure. Fravity AI's software fits into Socure's RiskOS platform, which launched in February 2025. The new addition plans to provide watchlist screening, ongoing monitoring, and know-your-business checks for industries such as insurance, gaming, crypto, and public sector customers.

Socure claims that its existing deployments have cut cost per case by 80%, resolved cases five times faster, and reduced false positives by up to 70%. Both companies' products were already running side by side in production before the deal. Socure's top customers include several U.S. banks, 160 public sector organizations, over 600 fintechs, and four of the Magnificent Seven technology companies.

The investment was led by Summit Partners, with Goldman Sachs Alternatives, Wells Fargo & Co., and Docusign Inc. also participating. The round combines primary capital with a tender offer for existing shares.