Scottsdale-based cybersecurity firm raises $10 million in funding

Scottsdale-based cybersecurity firm working towards a future with no passwords, Trusona, raised $10 million in a Series B funding round, according to a Tuesday announcement.

The online identity authentication service firm plans to use the new funding to accelerate its growth by doubling Trusona’s number of employees in the next three months, said Ori Eisen, Trusona’s CEO.

Trusona currently has 15 people working at its Scottsdale offices.

Trusona is also looking to expand internationally, starting with the United Kingdom and Japan, Eisen said.

“The amount of interest we have in the company and the requests for pilots and integration exceeds our capacity,” Eisen said about the firm’s expansion plans.

Microsoft Ventures led Trusona’s latest funding round, joining current investor Kleiner Perkins. Trusona provides identity authentication services through a wide variety of products.

Earlier this year, trusona launched Salesforce and Wordpress identity authentication services.

“Identity management is a critically important and growing space,” said Nagraj Kashyap, corporate vice president, Microsoft Ventures. “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.”

Trusona is also the world’s only insured transaction authenticator.

Eisen has been a cybersecurity leader in Arizona for many years. Eisen is a founding board member of Security Canyon, a cybersecurity association based in Arizona that works to promote the industry.

Eisen believes passwords are no longer effective for cybersecurity and should be taken out of the “security paradigm.”

Hackers can obtain passwords and usernames through a variety of means, making it hard to figure out if the person on the end of a transaction is who they say they are. Trusona’s products work to actually authenticate that the person on the other end of an online transaction is the actual person themselves, each and every time.