ID Insight Closes Out Round of Financing
St. Paul, Minn., March 27, 2006 — ID Insight, an analytics startup firm focused on identity theft detection, announced yesterday that it has completed a round of new equity financing involving a private placement of over 700,000 shares of common stock. The exercise price of these shares has not been disclosed.
The company, which currently provides identity theft solutions to retail banks, credit card issuers, and major retailers, is planning to use proceeds from the issued stock to fund a new product launch later this year. Additionally, capital raised will be used to expand operations and venture into new and emerging market segments.
ID Insight's recent financing involved existing investor Sunrise Partners; and also included several new backers.
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Media Contacts:
- Brian Bellmont for ID Insight, (952) 233-0428,
