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Socure
Overview
Socure is a United States-based company that specializes in security software, particularly in the domain of identity verification. Founded in 2012, the company has grown to employ between 501 and 1,000 individuals and reported revenue of approximately $115.5 million. Socure's solutions aim to enhance the onboarding process for businesses by providing fast and accurate identity verification, which is crucial in sectors such as gaming and finance. A case study featuring PrizePicks, a skill-based gaming company, illustrates Socure's impact on improving customer conversion rates while reducing friction during the onboarding process. PrizePicks faced challenges with low auto-approval rates for identity verification, which led to costly manual verification efforts. By implementing Socure’s identity verification solution, PrizePicks aimed to streamline its onboarding process and effectively manage fraud, particularly among younger gamers with limited credit histories. Socure’s technology is designed to support businesses in creating a trusted environment for their customers while facilitating growth and operational efficiency.