ID Experts said it raised $27.5 million in a round backed by Peloton Equity, Trident Capital Cybersecurity and existing investors BlueCross BlueShield Venture Partners and the Sandbox Advantage Fund.

ID Experts will use the money, along with cash from operations, to repurchase shares from existing shareholders and develop its suite of SaaS-based technologies that address cyber breaches and identity fraud.

Peloton Partner Ted Lundberg and Principal Justin Yang, and Sean Cunningham,managing director at Trident, will join the board.