Socure Acquires Fravity AI
Socure raises $156 million and acquires Fravity AI to automate fraud investigations.
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Key Points
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Industry data underscores the manual review burden in banks: 53% spend an hour or more on every alert, and 37% manually review more than 40% of the alerts in their queues.
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RiskOS was launched in February 2025, and Fravity’s agent-based capabilities will be delivered as RiskOS_Agents within the RiskOS platform, starting with watchlist screening, ongoing monitoring, and know-your-business checks.
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Fravity’s agentic AI platform has reportedly reduced cost per case by about 80% across its deployments.
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Several enterprises were already running Socure and Fravity side by side in production before the deal, indicating early integration and joint deployments.
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In addition to Summit Partners, participants in the round included Goldman Sachs Alternatives, Wells Fargo, and Docusign, with a secondary tender offer for employees.
Socure, an identity verification startup, raised $156 million at a $5.2 billion valuation and acquired Fravity AI to automate fraud investigations Tech Startups. The deal aims to help banks and financial firms handle mounting fraud cases more efficiently. Fravity's AI agents will integrate into Socure's RiskOS platform to speed up watchlist screening, monitoring, and business verification checks Biometric Update.
Socure now has over $742 million in total disclosed funding and serves more than 3,000 enterprise customers, including major banks and fintechs FinSMEs. The company reported $364 million in annual recurring revenue in Q2 and operates profitably. Summit Partners led the round, joined by Goldman Sachs Alternatives, Wells Fargo, and DocuSign Summit Partners.
Banks Spend Hours Reviewing Fraud Alerts
Manual fraud review creates a massive burden for financial institutions. According to industry data, 53% of banks spend an hour or more reviewing each fraud alert Bank Info Security. Another 37% manually check more than 40% of all alerts in their queues. This manual work slows down investigations and ties up staff as fraud tactics grow more complex.
Fravity's AI Agents Cut Investigation Costs Sharply
Fravity's agentic AI platform has reportedly cut costs per case by about 80% across its existing deployments Biometric Update. The platform automates tedious review tasks that previously required human investigators to work through each case manually. Several enterprises were already running Socure and Fravity side by side before this deal, showing both tools could work together in production.
RiskOS Adds AI Agent Layer to Risk Decisions
Socure launched RiskOS in February 2025 as its core risk intelligence platform. Fravity's capabilities will now be added as RiskOS_Agents, starting with watchlist screening, ongoing customer monitoring, and know-your-business checks Summit Partners. This moves Socure beyond just making yes-or-no risk decisions. Instead, it now actively helps investigators work through complex fraud cases faster.
Identity Verification Becomes Core Risk Infrastructure
Summit Partners noted that identity verification at global scale will define AI-driven risk systems for the coming decade Summit Partners. Financial firms face growing pressure to combat increasingly sophisticated fraud while meeting compliance rules. Socure's larger platform — combining identity checks with automated fraud investigation — positions it as a core tool in that infrastructure.
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