Kleiner, Perkins, Caufield & Byers led an $8 million Series A funding round for Trusona, a Scottsdale, Arizona-based identity and authentication platform. As part of the investment, Ted Schlein, general partner at Kleiner Perkins, will be joining the company’s board of directors. Trusona also announced its official launch out of stealth.
SCOTTSDALE, AZ–(Marketwired – Feb 22, 2016) – Trusona, the category-defining identity and authentication platform for the world’s most critical and sensitive web and mobile transactions, today announced its official launch out of stealth, bringing the world’s first authentication platform and federated identity solution to the enterprise. Trusona is the only identity authentication solution to offer in-person identity-proofing, secure distribution of a TruToken that exceeds National Institute of Standards and Technology (NIST) level 4 standards and patented anti-replay technology. Trusona’s core technology has experienced zero fraud in over 119 million transactions to date, allowing Trusona to provide 100 percent security assurance backed by actuarial data. Trusona also announced today a Series A funding round of $8M led by Ted Schlein and Kleiner, Perkins, Caufield and Byers (KPCB).
Designed for when you truly need to know who is on the other end of any transaction, Trusona is not just offering a new authentication platform but completely changing the way authentication happens. Since the first instance of Session Replay attacks appeared in 2010, user’s static credentials can be replayed — including SSL browser certificates — thwarting nearly all security measures that exist today. But Trusona goes beyond that with an approach based on four pillars: in-person identity proofing, a mobile app within registered devices, a six-digit PIN and a physical TruToken with patented anti-replay technology. Now everything from high-value wire transfers, to critical infrastructure, to health care records can be protected with a swipe of a registered card.
“When advanced fraud occurs, money never falls into the hands of somebody with good intentions. Knowing that, I’ve made it my life-long personal and professional goal to make the Internet a safer place for business,” said Ori Eisen, founder and CEO of Trusona. “With today’s launch of Trusona, we have an unparalleled solution that will not only change how people authenticate themselves on the Web, but will make the world a safer place.”
At the heart of Trusona’s technology is the TruToken, a patented technology with a zero percent fraud rate supported by actuarial data. Unlike card readers that can be fooled by counterfeit cards, TruToken reads the physical magnetic signature found in each card’s mag-stripe. No two mag-stripes are the same, which allows the TruToken’s technology to easily recognize a counterfeit card.
Furthermore, TruToken also relies on the swipe of user to detect and prevent session replays. No human can swipe the same card twice in exactly the same way, so 100 percent swipe match to a previous swipe means 100 percent fraud. Once Trusona users finalize an easy set up process, they can be Trusonafied.
Trusona offers two types of authentications: TruVerify (for logins and call-center call authentication) and TruFidelity (which verifies a user’s intent and transaction fidelity — ideal for wires, DTC transfers, or sensitive social media posts). TruFidelity is designed to alert the user should a ‘Man in the Middle’ or ‘Man in the Browser’ alter the original intent of the transaction.
With the launch, Trusona also announced that it has closed an $8 million Series A funding round led by Kleiner Perkins Caufield & Byers (KPCB). As part of the investment, Ted Schlein, general partner at KPCB and leading security investor, will be joining the team on the board of directors.
“In my nearly two decades as an investor, Trusona is one of the few solutions poised to revolutionize how we think about security and our personal information. I couldn’t wait to be part of a team with vision as unique and potentially influential,” said Ted Schlein, general partner at KPCB. “Security compromises are no longer a once in a while event, they happen daily. As such, it’s time we create truly unbreakable products that thwart malicious actors and keep our most sensitive and personal information safe.”
Throughout his career, Ted Schlein’s security track record has spoken for itself. He has led KPCB’s involvement in a number of successful investments, including ArcSight (acquired by HP), Mandiant (acquired by FireEye) and 41st Parameter, a fraud prevention company founded by Trusona CEO Ori Eisen and acquired by Experian in 2013.
“If you want to change the world, you need to work with the team at Kleiner Perkins,” said Ori Eisen, Trusona CEO. “If you want to change the world of security, you need to work with Ted Schlein.”
To learn more about Trusona and its category-defining authentication solutions visit Trusona.com.
Based in Scottsdale, AZ, Trusona is the world’s first authentication platform, designed to guarantee the true persona of verifiable users for the most sensitive online transactions. Backed by actuarial data, Trusona’s solution is composed of in-person identity-proofing and distribution, NIST Level 4 authentication standards and patented anti-replay technology. The company was founded in 2015 by CEO and cyber security expert Ori Eisen and has $8 Million in funding, led by Kleiner Perkins Caufield & Byers. Trusona — when you truly need to know. For more information about Trusona, visit www.trusona.com.