Before four months, Ariz.-based Trusona has Series A funding of $8 million. Now, they have got additional funding of $10 million in a Series B round. This new round was led by Microsoft Ventures along with existing investor Kleiner Perkins.
“Trusona offers businesses the ability to replace a static username and password combination (which can always be lost, stolen or compromised) with a more dynamic way to prove authentication online,” explained Ori Eisen, CEO and founder of Trusona. “With the Trusona app, users can log in with a single tap without typing any username or passwords.”
Trusona is expert in authentication and federated identity technologies for companies. TruToken is the patented technology of the company. It analyzes the physical magnetic signature of a card and the way of swiping the card by the user to determine fraud. It also offers two-step authentication process which involves TruVerify for logins and TruFidelity, which helps combat attacks during online transactions.
Cloud Security Alliance survey which was sponsored by Centrify mentioned that 22 percent of breaches in last year was caused due to stolen user and password. Other survey conducted by SailPoint Market Pulse mentioned that the stolen passwords are also sold.
“All you need is to register with the free Trusona app and the relying party (such as banks, healthcare providers, WordPress, streaming media, Salesforce, a company’s network, etc.) sends you a prompt,” added Eisen.
Trusona continuously tries to look for fraud transactions.
“What sets Trusona apart is its patented technology that uses the unique nature of each authentication to assure the transmission is authentic and not a session replay,” Eisen said. “Trusona’s patented anti-replay technology, infused in every solution, protects from malware that can replay static usernames and passwords to compromise any online account. This assures the right person is behind every digital interaction.”
Microsofts is impressed with this new technology.
“Identity management is a critically important and growing space,” said Nagraj Kashyap, corporate vice president of Microsoft Ventures, in prepared remarks. “Helping businesses and consumers move toward a safer and more secure digital world is a priority for Microsoft. We believe in the work Trusona is doing to give their enterprise clients peace of mind when it comes to data protection.”
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