Socure Acquires Fraud Fighter Fravity as Valuation Hits $5.2…

The firm reached that valuation Thursday (Aug. 27) following a new $156 million round of funding led by Summit Partners, which allowed Socure to acquire Fravity, an agentic platform aimed at automating fraud, risk and compliance operations.

“Identity has become a primary control point for trust in an AI-driven economy, and we believe the platforms that can verify identity accurately at global scale will define the next decade of risk infrastructure,” said Andy Collins, a managing director at Summit Partners. “Socure has built that capability with rigor—an AI-native architecture, a deep data advantage and documented outcomes for large enterprise and government customers.”

With Fravity, Socure can add an agentic operations layer to its trust infrastructure, which is used by more than 3,000 enterprise customers and government agencies. Socure and Fravity already share multiple enterprise customers, the company added.

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Now, Fravity’s capabilities will be delivered via Socure’s RiskOS platform as RiskOS_Agents to further automate the investigation work that takes up analysts’ time in reviewing manual cases.

“Today, many analysts are paid to do paperwork, and a growing amount of it as fraud volume rapidly grows and AI enables sophisticated attacks at scale,” the release added. “As alert volumes rise, an increasing share of financial crime teams’ time is consumed by manual investigation and documentation.”

According to the release, Fravity has reduced cost per case by 80% across its customer deployments, made case resolution give times faster and reduced false positives by up to 70%. Working with Socure, the companies focus on watchlist screening and monitoring along with know your business use cases.

Additional offerings available within RiskOS are planned for businesses across industries including financial services, workforce and payroll, public sector, big tech and AI, insurance, gaming, prediction markets, crypto, ticketing and global eCommerce.

The new funding and acquisition comes as businesses are dealing with increasing levels of fraud. Research by PYMNTS Intelligence shows that 57% of businesses report seeing more fraud attempts than a year ago.

Close to half of these companies (47%) pointed to incoming customer payments (including bill pay, recurring charges and repayments) as the kind of transaction where fraud presents the greatest risk.

“In practice, this shows up as failed or returned payments, unauthorized or reversed transactions and abuse of refunds or reimbursements,” the report said. “These patterns sharpen as payments accelerate, since refunds can go out before an original payment fully fails and real-time transactions cannot be clawed back once fraud is discovered.”