Socure raises $156 million to acquire AI startup Fravity

According to Crunchbase, AI fraud prevention company Socure has completed a $156 million strategic growth round with a valuation of $5.2 billion, led by Summit Partners and with participation from Wells Fargo, Goldman Sachs Alternatives, Docusign, and others. Its services are applied to companies such as Coinbase, Circle, Revolution, and Robinhood. Socure also announced the acquisition of AI startup Fravity, aiming to use AI agents to conduct fraud, risk, and compliance investigations. The specific acquisition amount has not been disclosed.