Socure, the leading provider of digital identity verification and fraud solutions, announced that Inc. magazine has ranked Socure among the nation’s fastest-growing private companies. Socure earned a top third position at No. 1,397 on the Inc. 5000 2022 list after generating triple-digit revenue growth between 2018 and 2021. Notable companies previously named to the list include Microsoft, Oracle, Under Armour, and Patagonia.
Joining the Inc. 5000 is only the latest honor for Socure, which, within the past year, has been named to the 2022 Forbes Cloud 100 List (for the second year running), Forbes America’s Best Startup Employers 2021, The Fintech 250, and Deloitte’s Technology Fast 500.
Socure is the market leader in identity verification and fraud prevention. Its graph-defined platform combines advanced machine learning and artificial intelligence with all elements of a consumer’s identity to deliver the most accurate and robust identity verification and proofing, Know Your Customer (KYC), and fraud risk prediction solutions in the market. The company has built the most comprehensive identity graph in the industry, which analyzes and correlates every facet of a digital identity. The graph utilizes over 17,000 features, 8 billion rows of data, and a continuous feedback loop of decision outcomes for 1,100 customers while delivering the highest-assurance assessments of new users in the market.
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“Earning a place on the Inc. 5000 list is tremendous recognition of our team’s accomplishments. Whether it’s helping our customers to auto-approve the underbanked and hard-to-identify, or helping government agencies fight identity fraud and get benefits to those most in need, accurate and equitable identity verification is imperative,” said Johnny Ayers, founder and CEO of Socure. “We’re solving what’s previously been unsolvable, and our work is having a positive impact on people’s lives. I am incredibly proud and grateful for the tremendous progress our team is making in being the first to verify 100% of good identities and completely eliminate identity fraud on the internet. I take this opportunity to congratulate the entire Socure team for this recognition.”
“The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” said Scott Omelianuk, editor-in-chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.”
Socure’s customers rely on its platform’s ability to not only provide the most precise identity fraud classification model in the industry, but to deliver unparalleled accuracy with auto-approval rates of up to 98% for mainstream demographics, and up to 94% for the hard-to-identify populations such as Gen Z, millennial, credit invisible, thin-file, and new-to-country. This dramatically reduces false positives, manual reviews, and customer friction, allowing Socure customers to drive tens of millions of dollars in incremental revenue by onboarding more good consumers quickly, and safely.
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