Identity verification company Socure Inc. today announced a $156 million strategic growth investment at a valuation of $5.2 billion.
Part of that money went to agentic artificial intelligence startup Fravity AI, acquired in a separate transaction announced the same day. Neither company disclosed the price.
Socure said the acquisition targets the manual case reviews that eat analyst time. Intelligence platform provider Liminal Strategy Inc. reported this year that 53% of banks spend an hour or more on every alert they open. A separate finding put 37% of banks manually reviewing upward of 40% of everything that lands in the queue. Much of that work is documentation.
Fravity AI aims its agents at that queue. The software retrieves the documents an investigator would gather, runs the sanctions and watchlist screening and drafts the case summary, which leaves the analyst reading a finished file rather than building one.
Kedar Samant, the chief executive, co-founded the fraud platform Simility, which PayPal Holdings Inc. bought in 2018, and stayed on there as a senior director of fraud and risk. His co-founder Rushik Upadhyay, now chief technology officer, was a chief architect on compliance at the same company.
RiskOS_Agents is the name the technology will carry at Socure. It slots into RiskOS, the risk decisioning platform Socure launched in February 2025. Watchlist screening, ongoing monitoring and know-your-business checks are the first use cases, with Socure planning further RiskOS offerings for insurance, gaming, crypto and public sector customers.
Socure said its existing deployments have cut cost per case by 80%, resolved cases five times faster and dropped false positives by as much as 70%. Several enterprises were already running both companies’ products side by side in production before the deal.
“I believe there are two types of companies that matter in the AI-driven global economy: those that are AI-native, and those that fight the consequences of AI acceleration,” said Johnny Ayers, co-founder and chief executive of Socure. “That’s why Socure is scaling so quickly.”
The top five U.S. banks are Socure customers. So are 160 public sector organizations, more than 600 fintechs and four of the Magnificent Seven technology companies.
Summit Partners led the investment. Goldman Sachs Alternatives, Wells Fargo & Co. and Docusign Inc. also took part, and the round mixes primary capital with a tender offer that lets employees sell existing shares. Andy Collins, a managing director at Summit Partners, said identity has become “a primary control point for trust in an AI-driven economy” and pointed to Socure’s data advantage and its record with large enterprise and government buyers.
Socure is based in Incline Village, Nevada. Accel and T. Rowe Price led a $450 million Series E round for the company in November 2021 at a $4.5 billion valuation. Fravity is the third company Socure has bought, after Berbix in 2023 and Effectiv a year later.