ID Experts, a Portland, Ore.-based provider of software and services for cyber breach and identity fraud protection, raised $27.5m in equity funding.
Backers included Peloton Equity, Trident Capital Cybersecurity, BlueCross BlueShield Venture Partners and the Sandbox Advantage Fund. In conjunction with the funding, Ted Lundberg, Partner, and Justin Yang, Principal, from Peloton Equity and Sean Cunningham, Managing Director at Trident Capital Cybersecurity will join the ID Experts board of directors.
The company intends to use the funds to repurchase shares from select existing shareholders and to continue to innovate its suite of SaaS-based technologies.
Led by Bob Gregg, CEO, ID Experts provides software and services that address the cybersecurity and breach risks faced by healthcare, retail, education, and government organizations, their customers and employees, as well as individual consumers.
In order to specifically address healthcare identity crime risks, the company recently launched a medical ID alert system – called MIDAS™ – to engage consumers in helping detect and address healthcare identity theft and fraud.