2002 News Release
ID Analytics Raises $10 million in Series A Funding
SAN DIEGO, CA, June 28, 2002–ID Analytics, Inc., the leader in preventing Identity Theft for credit granting industries, today announced it has secured in excess of $10 million in first-round funding. The funding round was led by Canaan Partners and Trinity Ventures.
In addition to the funding news, the company is also announcing the addition of Canaan Partners' John Balen and Trinity Ventures' Noel Fenton to the company's board of directors. Mr. Balen has over 15 years of venture capital and private equity experience. Mr. Fenton has been part of the Silicon Valley venture capital community for 35 years, and was co-founder of three successful venture capital backed technology startups.
"We are delighted to complete this significant funding milestone with such outstanding investors," said Bruce Hansen, Chairman and CEO of ID Analytics. "This level of financial backing will enable us to rapidly bring our solution set to market."
"We were excited to invest in ID Analytics," said John Balen, General Partner at Canaan Partners. "The Identity Theft problem and the costs to credit grantors are exploding, and we see ID Analytics as having the right team and approach to bring groundbreaking solutions to market."
About ID Analytics, Inc.
ID Analytics, the leader in Identity Risk Management, provides unprecedented real time visibility into the risk of individuals, protecting both organizations and consumers. ID Analytics pioneered identity scoring technology and uses Advanced AnalyticsSM and the ID Network®, the nation's only real time, cross-industry compilation of identity information, to assess risk and improve the customer experience across all consumer touchpoints. Top U.S. communication and financial service companies, as well as major retailers, government agencies and healthcare insurers, all trust ID Analytics to drive new revenue opportunities, eliminate financial losses, and protect their brand reputation with less customer friction.
ID Analytics is a registered trademark of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.