Socure Acquires Fraud Fighter Fravity as Valuation Hits $5.2 Billion
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Identity and risk intelligence infrastructure provider Socure is now a $5.2 billion company. The firm reached that valuation Thursday (Aug. 27) following a new $156 million round of funding led by Summit Partners, which allowed Socure to acquire Fravity, an agentic platform aimed at automating fraud, risk and compliance operations. "Identity has become a primary control point for trust in an AI-driven economy, and we believe the platforms that can verify identity accurately at global scale will define the next decade of risk infrastructure," said Andy Collins, a managing director at Summit Partners. "Socure has built that capability with rigor - an AI-native architecture, a deep data advantage and documented outcomes for large enterprise and government customers." With Fravity, Socure can add an agentic operations layer to its trust infrastructure, which is used by more than 3,000 enterprise customers and government agencies. Socure and Fravity already share multiple enterprise customers, the company added. We'd love to be your preferred source for news. Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks! Now, Fravity's capabilities will be delivered via Socure's RiskOS platform as RiskOS_Agents to further automate the investigation work that takes up analysts' time in reviewing manual cases. "Today, many analysts...
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