TrustedID, a leading provider of proactive identity protection solutions, today announced that it has secured $10 million in its Series B round of funding.
Opus Capital, a California-based venture capital firm, led the funding with existing investor Draper Fisher Jurvetson. TrustedID will use the funds for new product development and business expansion.
Ken Elefant, general partner at Opus Capital, will be joining TrustedID's board of directors. Elefant brings to the board a strong operations, business and marketing background and expert knowledge of Internet and software solutions.
"We are extremely pleased to have Opus and Draper Fisher Jurvetson as key backers of TrustedID. Both investors bring a wealth of experience in helping companies reach their potential," said Scott Mitic, chief executive officer and co-founder of TrustedID. "Their participation is an endorsement of our mission to provide individuals with the power and resources to manage and protect their credit and personal information."
TrustedID provides proactive prevention solutions for one of America's fastest growing crimes, identity theft. The company's flagship product, IDFreeze, is the most powerful solution available today to stop identity theft before it happens, and includes the ability for customers to freeze their credit reports with the three credit bureaus - Equifax, Experian and TransUnion.
"TrustedID simply has the strongest protection for identity theft available today," said Elefant. "After carefully studying the industry over the past 24 months, we're confident TrustedID's consumer offering beats all competitors. This new funding will allow the company to grow to the next level both in terms of product expansion and new customer acquisition."