Connect with us

Hi, what are you looking for?



Socure Acquires ID Verification Company Berbix for $70 Million

Identity verification solutions provider Socure has acquired automated ID verification firm Berbix for roughly $70 million in cash and stock.

Nevada-based identity verification solutions provider Socure announced on Tuesday that it has acquired California-based automated ID verification firm Berbix for roughly $70 million in cash and stock.

Berbix has created a document verification product that leverages a patent-pending forensics engine and data extraction capabilities to identify fake physical IDs that might pass verification by a human. 

The acquisition will accelerate Socure’s international expansion. In addition, Socure has integrated Berbix’s technology into its own offering and on Tuesday announced the launch of version 3.0 of its Predictive Document Verification (DocV) product. 

“DocV 3.0 uniquely leverages predictive risk signals from Socure’s ID+ comprehensive identity graph, inclusive of, but not limited to, rich device, phone ownership, behavioral data, address, and geolocation signals to provide risk decisions on the individual connected to the physical credential,” Socure explained. 

DocV 3.0 can be used as a standalone product for detecting online identity fraud attempts, but it’s also part of the company’s integrated identity platform, which includes email and phone risk, anti-money laundering (AML), bank account verification, and know your customer (KYC) solutions. 

Socure says it has more than 1,800 customers in the government, financial, gaming, telecom, healthcare, and ecommerce sectors. 

The company has raised more than $740 million. Its biggest funding round was announced in 2021, when it raised $450 million at a $4.5 billion valuation. 

Advertisement. Scroll to continue reading.

Related: Vouched Raises $6.3 Million for Identity Verification Platform

Related: Identity Verification Firm Veriff Raises $100 Million

Related: Fraud Detection Startup Moonsense Raises $4.2 Million in Seed Funding

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join security experts as they discuss ZTNA’s untapped potential to both reduce cyber risk and empower the business.


Join Microsoft and Finite State for a webinar that will introduce a new strategy for securing the software supply chain.


Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Identity & Access

Zero trust is not a replacement for identity and access management (IAM), but is the extension of IAM principles from people to everyone and...

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.


Thirty-five cybersecurity-related M&A deals were announced in February 2023

Cybersecurity Funding

Network security provider Corsa Security last week announced that it has raised $10 million from Roadmap Capital. To date, the company has raised $50...


Forty-one cybersecurity-related M&A deals were announced in March 2023.


Forty cybersecurity-related M&A deals were announced in January 2023.