Funding round
Socure Series C
Socure, which works in digital identity verification solutions in Incline Village, raised $30M in a Series C round announced on 28 Feb 2019, led by Scale Venture Partners. 7 firms took part. It is Socure's third venture round on record; the one before was a Series B in Aug 2017.
$30M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Socure did not disclose a valuation in this round. It came 18 months after Socure's Series B. It is 3.8% of the $787M Socure has raised in the venture rounds on record. Socure raised again 18 months later: a Growth round of $35M in Aug 2020. 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 9 Aug 2017, led by Commerce Ventures $14M
- Series C this round 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
Scale Venture Partners led the round with 6 other firms.
Lead investor
- backs 96 venture-backed companies new investor
Also in the round
- backs 55 venture-backed companies new investor
- Flint Capital new investor
- Two Sigma Ventures backs 60 venture-backed companies new investor
- Synchrony new investor
- backs 50 venture-backed companies new investor
- backs 39 venture-backed companies new investor
Joined the board: Rory O’Driscoll (Scale Venture Partners).
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
239 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 86% of the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Feb 2019 | $83M | not disclosed | Sofina and Natixis |
| Mirakl Tech Companies | 28 Feb 2019 | $70M | not disclosed | Bain Capital Ventures |
| Tech Companies | 28 Feb 2019 | $35M | not disclosed | GSV and SignalFire |
| Tech Companies | 21 Feb 2019 | $35M | not disclosed | JMI Equity |
| Tech Companies | 18 Feb 2019 | $34M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 14 Feb 2019 | $25M | not disclosed | Northpond Ventures |
| Tech Companies | 5 Feb 2019 | $24M | not disclosed | Top Tier Capital Partners |
| Tech Companies | 12 Feb 2019 | $23M | not disclosed | Valor |
Sources
Where this comes from
Reported by 6 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Socure raise in its Series C round?
Socure raised $30M in its Series C round, announced in Feb 2019.
Who led Socure's Series C round?
Scale Venture Partners led it, with Commerce Ventures, Flint Capital, Two Sigma Ventures, Synchrony and Sorenson Capital and 1 more.
What was Socure's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
239 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 86% of the median.
Did Socure raise again after this round?
Yes: a Growth round in Aug 2020 of $35M.