The company developed a patented, predictive analytics platform called ID+ that verifies whether digital identities are authentic, synthetic, or stolen. Through the use of advanced data science techniques, ID+ can validate the authenticity of a digital identity in real time.
As a result, the technology has earned compliance certification for three ISO/IEC 27000 standards regarding the privacy, confidentiality, and security controls of ID+. Those standards enable organizations to keep information assets — including consumers’ personally identifiable information (PII) — secure within a cloud-based environment.
“Data privacy, security, and integrity are essential for our customers, but also for consumers,” said Tom Thimot, CEO of Socure. “In an industry that relies on trust, the latest ISO certifications and SOC 2 type 2 report provide our prospects, customers, and their customers the confidence of knowing that Socure adheres to international Trust Services Principles standards for security and confidentiality.”
The certification was issued by A-lign, a cybersecurity and compliance firm, following a formal audit. That process tested the operational effectiveness of controls and certified that Socure follows rigorous international standards to ensure confidentiality, integrity, and availability of customer data.
In addition, Socure completed its annual re-attestation of its SOC 2 type 2 report that now includes privacy and security controls.
Last year, Socure closed a Series B funding round for $13.9 million led by Commerce Ventures, along with participation from a slew of other firms, including Synchrony Financial, Work-Bench, Flint Capital and Two Sigma Ventures, along with several others.
The financing will be geared toward building scale, increasing infrastructure and seeking what it termed as “new untapped markets.”