Last week, digital identity verification provider Socure announced that Tom Thimot will be joining the company as its new CEO. Socure’s founder and original CEO, Sunil Madhu, will become Chief Strategy Officer, in which role he will work with Thimot on platform innovation and new market opportunities.
“Tom and I worked together at Netegrity to grow the identity and access management business many years ago,” said Madhu. “I’m thrilled to work with him again at Socure and glad to pass the baton so he can help us accelerate the next phase of our growth as a pioneer of trust in digital identity.”
Prior to joining Socure, Thimot was CEO of Clarity Insights (most recently), COO of Kazeon, CEO of GoRemote, Executive Vice President of Worldwide Sales, Service and Support for Netegrity, and CEO of CaseCentral.
“I couldn’t be more excited to join my longtime friend and colleague Sunil and the entire Socure team,” said Thimot. “We are in the right place at the right time. I look forward to further accelerating our expansion, while maintaining Socure’s focus on customer satisfaction and innovation.”
Socure, founded in 2012 and based in New York, uses machine learning techniques to combat identity theft and fraud. By using biometrics and data intelligence from email, phone, IP, social media, and the broader internet, it intends to improve accuracy and speed of verification, and to address cases where more traditional methods of verification, such as information from credit files, are inadequate.
And the strategy’s been popular: in August of 2017 the company received $13.9 million in Series B funding, bringing total disclosed investment to $31.9 million, and in December it was included in CB Insights’ AI 100 list.
While other digital identity services are also looking into this space, Thimot contends that Socure’s six years of experience (and data) give the company a substantial headstart. However, he’s not counting on that alone to get results.
“Just because you have a head start doesn’t mean you can win the race. There are a lot of players in the space who all want to win that race. For us, that means no matter what, we have to be nimble, we have to stay fast and continue delivering results that are better than the rest.”