Microsoft leading $10M Series B funding round in Scottsdale tech startup
Phoenix Business Journal
by Hayley Ringle
Microsoft Ventures is leading a $10 million Series B round for Scottsdale-based identity management tech startup Trusona, which plans to double its workforce and expand internationally with the funding infusion.
Microsoft Ventures, the corporate venture arm of tech giant Microsoft Corp. (Nasdaq: MSFT), lead the round, with additional investment from previous investor Kleiner Perkins.
“Microsoft Ventures is leading this (round) for a reason,” Eisen said. “They could easily see how it could fit into many of their assets. I believe that over time we will work together to turn them into one of our customers and a partner to take the no password revolution forward. It’s amazing considering we’re a company with just 15 people in Scottsdale.”
Nagraj Kashyap, corporate vice president of Microsoft Ventures, said “identity management is a critically important and growing space.”
“Helping businesses and consumers move toward a safer and more secure digital world is a priority for Microsoft,” Kashyap said. “We believe in the work Trusona is doing to give their enterprise clients peace of mind when it comes to data protection.”
Trusona’s identity proofing is paired with authentication to eliminate the need for static user names and passwords, which Eisen said is the “internet security’s weakest link.”