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Socure biometrics and digital identity verification revenues up 113 percent

Categories Biometrics News  |  Trade Notes
Socure biometrics and digital identity verification revenues up 113 percent

Socure has reported a revenue spike of 113 percent for its biometrics and digital identity verification technology, on a year-over-year bases, as it builds momentum in the financial services, fintech and gaming sectors.

The company says it now serves 4 of the top 5 banks in the U.S., 7 of the top 10 card issuers, the top payroll provider, credit bureau, online gaming operator, and buy now pay later provider, as well as over 100 of the largest fintechs, according to the announcement. Socure says it provides biometrics and digital identity technology to over 400 large enterprises across 30 verticals.

As it moves towards an IPO, Socure has strengthened its leadership team with the appointment of Gary Sevounts as CMO and Eric Woodward as senior advisor to the CEO.

“Every industry has undergone or will undergo a major digital transformation,” says Johnny Ayers, founder and CEO of Socure. “As a result, a rapidly growing number of companies are relying on Socure to gain a competitive advantage in the customer acquisition battle by deploying our industry-leading identity verification and trust platform. Simply put, this allows companies to say yes to every good consumer instantly while reducing risk for every interaction involving the exchange of money in a digital environment.”

The company also highlighted its recent $100 million funding round, and the subsequent strategic investment from Capital One.

“Socure is the industry-leading identity verification and trust platform,” claims Aman Sharma, partner at Capital One Ventures. “While there are multiple point products available in the market, Socure is the only complete solution that meets the challenging demands of extremely high growth, low user friction, and low risk for the onboarding and identity engines at the top companies in the world.”

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