INCLINE VILLAGE, Nev.--(BUSINESS WIRE)--Socure, the leading provider of digital identity verification and fraud solutions, today announced it is one of the fastest-growing companies on the Deloitte Technology Fast 500™ for the third year in a row. From 2018 to 2021, Socure’s revenue grew 463%. Now in its 28th year, the Deloitte Technology Fast 500 is a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America.
Inclusion in the prestigious Fast 500 rankings is the most recent example of industry leadership recognition for Socure. Last month, the company earned a spot on CB Insights Fintech 250, a ranking of the most innovative financial technology companies. In August, Socure earned a top-third position at No. 1,397 on the Inc. 5000 2022 list, a ranking of the nation’s fastest-growing private companies. That same month, Socure also made the 2022 Forbes Cloud 100 List.
“Regardless of how many times Socure’s team is recognized for the impact we’re making on the identity verification space, I’m extremely grateful and energized for what’s ahead,” said Johnny Ayers, founder and CEO of Socure. “With inflation at a 40-year high and recession fears rising, companies are seeing more sophisticated fraud schemes attacking them than ever, yet are still needing to grow. Socure’s ability to verify the largest number of good identities in real time with the least amount of fraud is increasing the demand for our platform across all consumer-facing industries, as recognized by the Fast 500.”
Socure is the highest valued company in the identity verification and fraud prevention space. The company’s graph-defined platform combines advanced machine learning and artificial intelligence to analyze all elements of a consumer’s identity. Socure delivers the most accurate and robust identity verification and proofing, Know Your Customer (KYC), and fraud risk prediction solutions in the industry.
The Socure platform enables organizations to safely onboard more new customers, reduce false positives and manual reviews while enabling customers to exponentially increase revenue and minimize fraud in a single solution. In 2022, the company saw triple-digit growth in customers, including numerous marquee companies from sectors such as financial services, marketplaces, online gaming, telecommunications—as well as prominent government agencies.
“This year’s Technology Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have prospered by anticipating what’s next, understanding what’s needed to succeed, and driving creativity forward,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media, and telecommunications within Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners have shown they not only have the vision but can also expertly manage their companies through rapid growth. We congratulate each winner on their impressive achievements.”
About the 2021 Deloitte Technology Fast 500™
Now in its 28th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies—both public and private—in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Socure
Socure is the leading platform for digital identity verification and trust. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from physical government-issued documents as well as email, phone, address, IP, device, velocity, date of birth, SSN, and the broader internet to verify identities in real time. The company has more than 1,400 customers across the financial services, government, gaming, healthcare, telecom, and e-commerce industries, including four of the top five banks, 13 of the top 15 card issuers, the top three MSBs, the top payroll provider, the top credit bureau, the top online gaming operator, the top Buy Now, Pay Later (BNPL) providers, and over 250 of the largest fintechs. Marquee customers include Chime, SoFi, Robinhood, Gusto, Public, Stash, and DraftKings. Socure customers have become investors in the company including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, and Synchrony. Additional investors include Accel, T. Rowe Price, Bain Capital Ventures, Tiger Global, Commerce Ventures, Scale Venture Partners, Sorenson, Flint Capital, Two Sigma Ventures, and others.