While identify theft is a huge global problem, it is also a big market opportunity. Take a look at TrustedID, which develops protection solutions.

This week the company announced a $10 million round of venture capital. Its investors include Opus Capital and Draper Fisher Jurvetson.

"Our funding process went quickly and smoothly," TrustedID CEO and co-founder Scott Mitic said in a BloggingStocks interview. "The investment community likes companies with proven market demand, strong revenue growth, reasonable customer acquisition costs and a great ability to retain customers for years."

TrustedID has a unique product called IDFreeze, which actually stops ID theft before it happens. There is even a $1 million guarantee.

"ID theft is definitely getting more pervasive and more complex," said Mitic. "As with many maturing crimes, we're seeing the problem morph and change. The majority of crimes are still focused on credit-based identity theft, but those crimes are getting more aggressive and starting to target new victims – children, for example. We're also seeing growth in non-credit based identity theft – for example employment-oriented identity theft which involves the theft of SSNs for use in employment by non-documented workers."

Yes, it's scary stuff. But, at the same time, it's propelling the business at TrustedID. "We're seeing great month-to-month customer growth and revenue growth," said Mitic.

Also visit DealProfiles.com to check out other recent venture fundings.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.