NEW YORK - August 12, 2021 - Socure, the leading provider of digital identity verification and fraud solutions, today announced it has been named to the Forbes 2021 Cloud 100, the definitive list of the top 100 private cloud companies in the world published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.
This announcement comes on the heels of the company’s release of its record financial results – achieving 126% annual recurring revenue growth and booking growth of 285% in the second quarter of 2021 as compared to the same quarter of 2020. The company also recently surpassed 500 enterprise customers as it experienced massive inbound interest from companies in financial services, fintech, crypto, telco, healthcare, online gaming operators, and state and federal governments looking to reduce fraud and gain the ability to fully automate more customer approvals, while reducing false positives and consumer friction.
Socure also achieved a net retention rate of 177% driven by near-zero attrition and its enterprise customers increasingly deploying multiple Socure products across various divisions making Socure their complete KYC, document authentication, AML, and fraud prevention platform.
"This is another incredible moment in our history as we are once again recognized by Forbes for our leadership in digital identity and fraud,” said Johnny Ayers, founder and CEO of Socure. “To be included among the top technology innovators and many of our customers is truly a tremendous honor. I am extremely grateful to our team and the partners that we get to collaborate and innovate with everyday as we work to solve an enormously important societal problem.”
The Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people and culture (15%). For market leadership, the Cloud 100 enlists the help of a judging panel of 34 public cloud company CEOs who assist in evaluating and ranking their private company peers.
"The companies of the Cloud 100 list represent the best and brightest emerging companies in the cloud sector," said Alex Konrad, senior editor at Forbes. "Every year, it gets more difficult to make this list — meaning even more elite company for those who do. Congratulations to each of the 2021 Cloud 100 honorees and to our 20 Rising Stars up-and-comers poised to join their ranks.”
Earlier this year, Socure was featured in two categories in the Forbes Fintech 50 List 2021 including "Newcomers" and "The Future of Payments” and was also recognized for the second year in a row by Forbes as one of America’s Best Startup Employers for 2021.
The Forbes 2021 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100.