Socure’s new annual recurring revenue from digital identity verification, biometrics and fraud prevention technologies grew by 62 percent in the first quarter of fiscal 2026, with the company reporting more than $31 million in new bookings and total ARR above $340 million.
Revenue Growth Driven by Identity and Fraud Prevention
The privately owned company said its net dollar retention stood at 134 percent and that it has surpassed 3,000 customers. Socure identified age verification, marketplace risk and workforce verification as fast-growing business areas.
The company also said it is supporting international expansion for customers through cross-border identity verification. In 2025, Socure’s revenue from prediction markets and sportsbook operators grew by 65 percent, while its public sector customer base more than doubled after it received FedRAMP Moderate authorization in March.
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CEO Warns of Professionalised Identity Fraud
Johnny Ayers, founder and chief executive officer of Socure, said identity fraud is becoming increasingly professionalised. He cited nation-state actors, synthetic identity networks and AI-generated deepfakes as threats now operating at enterprise scale.
Ayers said organisations need to make identity and risk intelligence a single, continuously adaptive infrastructure layer across digital operations to compete in such an environment.
Company Plans Expansion in High-Risk Verticals
President and chief operating officer Matthew Thompson said the company will increase its presence over the next 12 months in sectors where AI-driven fraud poses what he described as “existential risk.”
Socure booked around $100 million in new business in 2025. Last month, the company launched a line of pre-built enterprise-grade digital identity and fraud prevention solutions, along with a payment AML screening API.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
