Social biometrics company Socure has found a major new investor, the company has announced. Flint Capital, a venture capital fund operating in the US, Europe, and Israel, is chipping in to the current round of financing, which so far totals $2.5 million.
Flint joins a number of other prominent investment firms – including Two Sigma Ventures, ff Venture Capital, and Founder Collective – in recognizing promise in Socure’s innovative Social Biometrics system. The anti-fraud platform is designed to analyze data from mobile apps, social networks, and other online sources to authenticate user identities via their behavioral patterns. It’s an area of increasing interest as other companies such as NuData and I Am Real also seek to leverage online behavior analytics in the interest of fraud detection and prevention.
In a statement announcing the investment, Flint Capital partner Sergey Gribov praised the platform, which he said “helps financial institutions to combat fraud globally.” But he also looked beyond that, pointing to its utility to financial institutions in authenticating individuals who don’t have thorough credit histories. “This is an even bigger market outside of the US, where credit systems don’t exist at all,” he said, adding, “Flint Capital is planning to help the company with our international connections and expertise.”
August 27, 2015 – by Alex Perala