Socure

Socure Launches Facial Biometric Anti-fraud Technology, Perceive

Socure Launches Facial Biometric Anti-fraud Technology, Perceive
By David Penn Posted on
Categories: FinovateSpring 2015, Socure

SocureThis post is part of our live coverage of FinovateFall 2015.

Socure is announcing Perceive at FinovateFall 2015. Perceive is a patented, remote facial biometrics solution designed to address account-takeover fraud and transaction security. The device-agnostic Perceive SDK can be added to any mobile or web application to accurately authenticate a consumer using their face, without the hindrance of prior training required by conventional recognition biometrics.

Presenters: Co-founders Sunil Madhu, CEO, and Johnny Ayers, SVP, business development

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Product launch: September 2015 at FinovateFall

Metrics: $7.2 million raised; $3 million revenue; 320 customers across 32 countries; 23 employees
Product distribution strategy: Direct to business (B2B); through financial institutions; through other fintech companies and platforms

HQ: New York City, New York
Founded: September 2012
Website: socure.com
Twitter: @SocureMe

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Finovate Alumni News

By David Penn Posted on
Categories: additiv, Dealflow, Empyr, Feedzai, Finanteq, Fiserv, HelloWallet, Hypori, InforcePRO, iSignthis, Jumio, LiftForward, Moven, Socure

On Finovate.com

  • “FinovateFall 2015: Mapping Fintech’s International Neighborhood”

Around the web

  • Feedzai teams up with Socure to combine social biometrics with fraud-risk scoring. See Socure at FinovateFall 2015 in New York City next week.
  • Moven CEO Brett King joins the advisory board for Jumio.
  • Fiserv joins Visa, Citi, Nasdaq, and Capital One in $30 million funding of blockchain startup, Chain. Join Fiserv in New York City next week for FinovateFall 2015.
  • iSignthis confirms the adequacy of its KYC services for use by financial institutions in the U.S.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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FinovateFall Sneak Peek: Socure

FinovateFall Sneak Peek: Socure
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2015 Sneak Peek, Socure

SocureHomepage

The Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference, and we’ll see you in New York!


SocureLogo2Socure takes an innovative approach to identity verification by using online and social media data to enable financial institutions to confirm consumers’ identity.

Features of Socure:

  • Innovative Social Biometrics Platform(TM)
  • Blends facial recognition with social media and online data
  • Patented technology to fight fraud, reinforce KYC/CIP

Why it’s great
Socure is the only platform that blends facial recognition with social media and online data, using artificial intelligence and machine learning algorithms to validate an identity in real time.

SocurePresenter1Presenters

Sunil Madhu, CEO, Co-founder
Madhu is a serial entrepreneur, with several successful transitions through IPO and acquisition. A security architect by profession, he has spent 20+ years innovating and implementing ideas for identity safeguards and access management.
LinkedIn

Johnny Ayers, SVP, Business Development; Co-founder
Ayers has worked at Socure since September of 2012.
LinkedIn

 

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Adobe, Avoka, Betterment, CellTrust, DoubleNet Pay, Emailage, Flybits, FutureAdvisor, Markit, MaxMyInterest, Mint, Moven, PocketSmith, Socure, SumUp, Venmo, Wealthfront, Xignite, Yodlee

On Finovate.com

  • “SumUp Raises €10 Million in Round Led by BBVA Ventures, Groupon, American Express”

Around the web

  • In its fiscal year 2015, Avoka signs record number of clients and experiences 70% year-on-year bookings growth.
  • Yodlee is accepting applicants for its upcoming Ynext Incubator class.
  • Markit acquires FX trade-processing specialist DealHug. See Markit at FinDEVr 2015 in San Francisco in October.
  • Emailage opens European data center.
  • After BlackRock’s acquisition of FutureAdvisor, ThinkAdvisor considers the fate of Wealthfront and Betterment.
  • Forbes looks at Mint, MaxMyInterest, Moven, and Venom in a discussion on the connection between mobile, messaging, and financial services.
  • Mainstream features a quote from founder of DoubleNet Pay, CEO Brian Cosgray, on the impact of debt on new retirees.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bright Funds, CardFlight, Eco-Mail, FIS, Hedgeable, InComm, Lighter Capital, PayPal, Pindrop Security, SocietyOne, Socure, Tradier, WePay

On Finovate.com

Around the web

  • Pymnts interviews Rich Aberman, WePay co-founder.
  • TradeSharp integrates with Tradier to offer brokerage services and enhanced trading strategies.
  • Gwyneth J. Gaul joins Bright Funds as the company’s new vice president of corporate partnerships.
  • Dividend.com features several alums in its discussion on how robo-advisors are changing the investment world.
  • Washington Technology Industry Association creates video about Lighter Capital.
  • InComm to expand offerings in Asda, the United Kingdom-based subsidiary of Walmart.
  • PayPal acquires mobile commerce platform Modest, its first acquisition as a standalone, public company.
  • Socure appoints Michael Hiskey as vice president of marketing. Join Socure at FinovateFall 2015 in New York.
  • Investment News quotes Hedgeable CEO Mike Kane on bitcoin’s prospects as an alternative asset class. See Hedgeable in New York at FinovateFall 2015.
  • Avidia Bank ($1.2 billion) to deploy Cardless Cash ATMs courtesy of partnership with FIS.
  • Eco-Mail names John Schloff as managing director of marketing. Catch Eco-Mail live at FinovateFall 2015 in September.
  • CardFlight’s SwipeSimple to power Integrity Mobile’s mPOS tech.
  • Pindrop Security appoints Mike Vandiver as chief financial officer.
  • Check out this week’s FinDEVr APIntelligence.
  • Australia-based SocietyOne hits $200m in applications.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By David Penn Posted on
Categories: Ayasdi, Corezoid.com, Dragon Wealth, EverSafe, Flint Mobile, FutureAdvisor, Global Debt Registry, MaxMyInterest, PayNearMe, Q2, Qapital, Socure, Tradier, Xignite

On Finovate.com

  • “Socure Secures $2.5 Million in Debt Financing”
  • “Five Finovate Alums Named 2015 Technology Pioneers by World Economic Forum”

Around the web

  • Let’s Talk Payments interviews Stephane Dubois, Xignite CEO and founder. See Xignite at FinDEVr 2015 in San Francisco in October.
  • Flint Mobile upgrades its iOS mobile app to improve compatibility with Apple Wallet.
  • Cloud OS Corezoid is now available via the Amazon Marketplace (in Russian).
  • Forbes notes MaxMyInterest, Dragon Wealth, and EverSafe in a feature on the global growth of fintech accelerators.
  • Market Visual integrates with the Tradier API to enable investors to manage stock portfolios and trade on a single platform.
  • Q2 Holdings acquires Centrix Solutions for $20 million.
  • Ayasdi named a 2015 Technology Pioneer by World Economic Forum.
  • Delaware Business Times profiles Global Debt Registry.
  • RateFuel asks if Qapital represents the “future of banking.”
  • PayNearMe partners with The California Department of Child Support Services to offer a new payment option for cash-paying customers.
  • FutureAdvisor launches FutureGift to help friends and family easily contribute to kids’ college funds.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Socure Secures $2.5 Million in Debt Financing

Socure Secures $2.5 Million in Debt Financing
By David Penn Posted on
Categories: Socure

Socure_homepage_Aug2015

Finovate has confirmed that ID-authentication specialist Socure has raised $2.5 million in debt financing. This supports a recent report that Socure CEO Sunil Madhu had filed a Form D with the SEC in late July.

The debt financing adds to the more than $4 million in equity capital Socure has earned. The company’s last fundraising was a $2.5 million investment Novembe 2014 that featured participation from ff Venture Capital, Founder Collective, and Two Sigma Ventures.

Socure_stage_FF2013

From left: Socure CEO Sunil Madhu and Johnny Ayers, SVP of business development, demonstrated their company’s Social Biometrics technology at FinovateFall 2013.

Socure provides a real-time identity-verification technology to help payments-remittance companies, FIs, and online merchants combat identity fraud. The company’s Social Biometrics platform is an SaaS solution that combines artificial intelligence, machine learning, and social behavior-pattern analysis to distinguish qualified logins from attempted logins by fraudsters and bots.

Socure announced last month that it had earned U.S.-EU and U.S. Switzerland Safe Harbor Certification. This assures customers that the company’s handling of sensitive data meets the privacy requirements of both the European Union and the Swiss government. In June, Socure was profiled in PYMNTS.com, which interviewed co-founder Johnny Ayers, SVP of business development, and Ken Allen, SVP operations.

Founded in August 2012 and headquartered in New York, Socure demonstrated its Social Biometrics solution at FinovateFall 2013. The company returns to the Finovate stage in September for FinovateFall 2015. To learn more about our upcoming conference in New York City, visit our FinovateFall 2015 page.

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Socure Scores $2.5 Million to Overcome Evil with Good

Socure Scores $2.5 Million to Overcome Evil with Good
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Socure

Socurelogo.jpg

Online security companies are always working to stay one step ahead of fraudsters. Socure, a New York-based company is out to fight these malevolent deeds with an approach it calls Social Biometrics.

As it turns out, it pays to be good. The company just closed a $2.5 million round of funding this week. Investors include:

    • Founder Collective
    • Two Sigma Ventures
    • ff Venture Capital 

This, added to Socure’s $2.2 million Seed round it generated in March, brings the company’s total funding to $4.7 million.

Socuredashboard

Socure’s fraud detection solution uses people’s social behavior across networks to determine the authenticity of their identity. See their debut of Social Biometrics at FinovateFall 2013.

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Alumni News– November 3, 2014

By David Penn Posted on
Categories: Azimo, Better ATM Services, Fuze Network, Ixaris, Mitek, Money on Toast, Ripple, Socure
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMoney on Toast to outsource its administration to Equiniti Wealth Solutions.
  • Mitek announces Restrictive Endorsement feature to reduce risk of duplicate check deposits.
  • Azimo opens up money transfer service to Kenya’s M-Pesa.
  • Better ATM Services signs agreement with ATM manufacturer, Genmega.
  • Ixaris teams up with United bank for Africa (UBA) to bring its virtual card platform to 20 markets in Africa.
  • Socure scores $2.5 million to overcome evil with good.
  • Yantra Financial Technologies integrates Ripple Protocol into risk management system.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alums LendingRobot, Wallaby Among 2014 Innotribe New York Winners

Finovate Alums LendingRobot, Wallaby Among 2014 Innotribe New York Winners
By Julie Muhn (@julieschicktanz) Posted on
Categories: CUneXus Solutions, Digital Retail Apps, LendingRobot, Socure, Wallaby Financial
Innotrib_logo_new

Today, New York. Tomorrow, Boston and the world.

LendingRobot and Wallaby Financial were among the five companies to win the 2014 Innotribe Startup Challenge in New York last week. The two companies will join fellow winners, Epiphyte, Juntos Finanzas, and Standard Treasury – as well as winners from competitions held in Singapore and London – for the final competition in Boston this September where an overall winner for 2014 will be crowned.

LendingRobot_logo

LendingRobot demoed its technology at FinovateSpring 2014 in San Jose. The company’s solution not only helps investors manage their P2P loan portfolios, but also uses automation to help them compete against experienced and institutional investors who themselves use technology to spot the best loans available from companies like Lending Club.

Wallaby_logo.jpg

Wallaby Financial helps consumers choose which credit card in their wallet is the optimal one to use with any given transaction. Demoing its Wallet Boost technology as part of the FinovateSpring show in 2013, Wallaby was recently in the news announcing a new service called WalletUp. Available from its new partner, CreditCards.com, WalletUp makes it even easier for consumers to have and use the best mix of credit cards for them.
Also participating in the Innotribe competition in New York were a handful of other Finovate alums including CUneXus, Socure, and Digital Retail Apps. See FinovateSpring 2014 demos of CUneXus here, and Digital Retail Apps here. Socure’s demo from FinovateFall 2013 is available here.

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Finovate Alumni Raise $825 Million in 2013, Up 79%

By Julie Muhn (@julieschicktanz) Posted on
Categories: Affinity Solutions, Apprenda, Azimo, Bill.com, BillFloat, Cardlytics, Check, Clover Network, CoverHound, Credit Karma, CurrencyFair, DeviceFidelity, Doxo, Dwolla, ERN, Fenergo, FinanceIt, Flint Mobile, FTRANS, Funding, Heckyl Technologies, Jemstep, Kofax, Kony Solutions, LearnVest, Lendio, LendUp, Meniga, Moven, Narrative Science, Numbrs, On Deck Capital, OpenCoin, P2BInvestor, Payfone, PayNearMe, peerTransfer, Personal Capital, Ping Identity, Prestadero, Prosper, Q2ebanking, Receivables Exchange, SafetyPay, SeedInvest, Socure, SoMoLend, Spreedly, SumUp, Swipely, Taulia, TradeHero, Tradeshift, TransferWise, True Office, Trustev, Tuition.io, Wealthfront, Wipit, Xero, Zooz

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Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.
2013 funding summary:
    • 62 companies raised $825 million
    • Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million). 
    • October was the busiest month, with $177 million raised (mostly Xero’s $150 million)
    • May was second highest with $91 million raised by 7 companies
2012 comparison
Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised $460 million. The chart below shows the quarter-by-quarter comparison for both years.
2013YearEndTable.jpg
Quarter 1 — blog post
More than $155 million raised by 14 companies
January — $57 million raised by 6 companies
February — $56 million raised by 5 companies

March — $42 million raised by 4 companies


Quarter 2 — blog post
More than $205 million raised by 15 companies
June — $81.7 million raised by 6 companies
May — $91.5 million raised by 7 companies
April — $32 million raised by 2 companies

Quarter 3 — blog post
More than $171 million raised by 22 companies

July — More than $63 million raised by 8 companies
August — More than $26 million raised by 6 companies
September — $82 million raised by 9 companies
Quarter 4
More than $294 million raised by 17 companies

October— $177 raised by 6 companies
November — More than $87 million raised by 7 companies
December — More than $30 million raised by 6 companies

Note: Funding that companies received before they first appeared at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

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Third Quarter 2013 Funding for Finovate Alumni — More than $171 Million Raised

By David Penn Posted on
Categories: Azimo, Check, ERN, FTRANS, Kofax, LearnVest, Lendio, Meniga, Moven, Narrative Science, Numbrs, P2BInvestor, Ping Identity, Prestadero, Prosper, SafetyPay, Socure, SumUp, Taulia, Wipit

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The third quarter of 2013 revealed that even during the sleepy days of summer, the business of putting capital into the coffers of fintech innovators remained as busy as ever.

Finovate alumni were the beneficiaries of more than $171 million during July, August, and September. This brings the total year-to-date funding for Finovate alumni to at least $526 million (some of the funding amounts were undisclosed).

Here is the Q3 summary for 2013:

July — More than $63 million raised by eight companies
August — More than $26 million raised by six companies
September — $82 million raised by nine companies
Note: Fundings prior to a Finovate appearance not included. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

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