Funding round
Socure Series B
Socure, which works in digital identity verification solutions in Incline Village, raised $14M in a Series B round announced on 9 Aug 2017, led by Commerce Ventures. 6 firms took part. It is Socure's second venture round on record; the one before was a Series A in Oct 2014.
$14M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Socure did not disclose a valuation in this round. It came 34 months after Socure's Series A. It is 1.8% of the $787M Socure has raised in the venture rounds on record. Socure raised again 18 months later: a Series C round of $30M in Feb 2019. Its next priced round, a Series E in Nov 2021, valued it at $4.50B.
Socure's funding rounds
Socure has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 28 Oct 2014 $2.5M
- Series B this round 9 Aug 2017, led by Commerce Ventures $14M
- Series C 28 Feb 2019, led by Scale Venture Partners $30M
- Growth 25 Aug 2020, led by Sorenson Ventures $35M
- Series D 16 Mar 2021 $100M
- Series E 9 Nov 2021, led by Accel and T. Rowe Price $450M$4.50B post-money
- Debt not a venture round 8 Mar 2023 $95M
- Growth 27 Aug 2026, led by Summit Partners $156M$5.20B post-money
Investors
Who put money in
Commerce Ventures led the round with 5 other firms.
Lead investor
- backs 55 venture-backed companies new investor
Also in the round
- Flint Capital new investor
- backs 35 venture-backed companies new investor
- backs 39 venture-backed companies new investor
- Two Sigma Ventures backs 60 venture-backed companies new investor
- Synchrony Financial new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
374 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was 87% of the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 17 Aug 2017 | $40M | not disclosed | Icon Ventures |
| Tech Companies | 22 Aug 2017 | $40M | not disclosed | Kleiner Perkins |
| Tech Companies | 3 Aug 2017 | $30M | not disclosed | Kayne Partners |
| Tech Companies | 30 Aug 2017 | $25M | not disclosed | DCM |
| VideoAmp Tech Companies | 31 Aug 2017 | $21M | not disclosed | Mediaocean |
| Tech Companies | 31 Aug 2017 | $21M | not disclosed | Mayfair Equity Partners |
| Tech Companies | 28 Aug 2017 | $20M | not disclosed | not named |
| Tech Companies | 29 Aug 2017 | $20M | not disclosed | Frog Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Socure raise in its Series B round?
Socure raised $14M in its Series B round, announced in Aug 2017.
Who led Socure's Series B round?
Commerce Ventures led it, with Flint Capital, Work-Bench, Mouro Capital, Two Sigma Ventures and Synchrony Financial.
What was Socure's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
374 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was 87% of the median.
Did Socure raise again after this round?
Yes: a Series C round in Feb 2019 of $30M.