• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

2

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Cybersecurity

Identity-Proofing Startup Trusona Announces $8M in Series A Funding

By
Polina Marinova
Polina Marinova
Down Arrow Button Icon
By
Polina Marinova
Polina Marinova
Down Arrow Button Icon
February 22, 2016, 7:00 AM ET
Add Fortune on Google for similar content.

Twenty minutes. That’s how long it took for ex-confidence trickster turned security expert Frank Abagnale to convince Ori Eisen to quit his fraud director job at American Express.

“Nobody will know what was said in those 20 minutes,” Eisen said, declining to give specifics about the conversation that took place in a limousine. “But here’s what Frank told me in the car at the very end, ‘If what you’re telling me is true and you can do all of these things, I highly suggest you leave American Express, and I will help you.’”

So he did. After Eisen quit his job and founded cybersecurity company called 41st Parameter, Abagnale came on as adviser, and the two grew the business until it was acquired by Experian for $324 million in 2013. Today, Eisen’s newest company, Trusona, launches out of stealth mode with an $8 million Series A funding from Kleiner Perkins Caufield & Byers. (Fortune reported the funding in January before it was officially announced.)

Trusona is an identity authentication firm that offers in-person identity-proofing, secure distribution of a TruToken and patented anti-replay technology. In other words, it makes it really, really safe to wire millions of dollars, log into a restricted computer network or access an authorized social media account. Here’s a demo of how it works:

https://www.youtube.com/watch?v=AoOnfobfSVU&feature=youtu.be

Trusona’s beta clients include top banks, brokerage accounts and healthcare companies. “All of the companies we work with are Fortune 500 companies or government agencies,” Eisen said.

The technology has been in use for the last six years inside of ATMs in Chile. During that time, it has reportedly undergone 119 million transactions with zero fraud. Eisen made a bold statement: “That’s why we can guarantee that after we meet you, verify your identity, give you this token and register your card, there is no technical possibility of another card coming in and looking like you. It’s just impossible to do.”

Abagnale, who was portrayed by Leonardo DiCaprio in the film Catch Me If You Can, has been an adviser to the company since its inception. Fortune sat down with Eisen and Abagnale to learn more about their relationship, the new company, and why this technology needs to exist today.

 

How did you and Frank first meet?

Eisen: When I was at American Express (AXP), the guy who was the head of counterfeit fraud had moved on. So my boss said, “You’re not just going to do Internet fraud. You’re now also going to do counterfeit fraud.” I knew nothing about counterfeit fraud. I started Googling and all roads led to the best guy in the industry – Frank Abagnale. I called his office, and they told me Frank doesn’t take new customers.

What you’ll learn about me is that I don’t give up easily. I courted Frank for a few months because I realized I didn’t want to waste my time. I wanted to learn from the best. It took about four months until I got a call back from his office and they told me, “Frank is going to be in San Antonio. He has 20 minutes between the speaking arrangement and his hotel. If you want those 20 minutes of his time, you have them.” I said, “I’m coming.”

 

Frank convinced you to quit your AmEx job, he came on as an adviser to your new company called 41st Parameter, and then you sold it. How did Trusona come about?

Eisen: On March 18, 2010, we saw for the very first time in our labs, the Session Replay, which means it’s a perfect copy of a session that’s been seen before – it’s just that this time it’s coming from the bad guys. So if I’m a CFO that moves $10 million on Monday, and someone with malware listens, then on Wednesday, they can send $20 million to themselves with the same exact username, password, IP address and certificate. Everything is the same, so how can you tell the difference? I reached out to Frank and I said, “There’s one more thing to do before I can retire and say we’ve done everything possible to secure the Internet.” The reason Frank joined this ride is that the way we work together is very symbiotic. I can write the best algorithm and technology, but I can’t do what he does.

 

Frank, what is it that you can do that Ori cannot?

Abagnale: We worked together on 41st Parameter for 10 years, and a reporter in Hong Kong asked Ori, “Frank Abagnale does not write code… So how does Frank Abagnale code?” And Ori said, “No, he doesn’t write code, but I’m not a criminal. When it comes to social engineering, no one knows more than him, and that’s why he’s been at the FBI for 40 years.”

[Eisen] develops it, he brings it to me and we basically play chess. He makes a move, I combat it, and then we go back to the lab and work on it all over again. We do that until the day I say to him, “OK, as far as I’m concerned at this point in time, it’s foolproof.” And that’s when 41st Parameter went out to the market. That’s the same way we approached [Trusona]. We look at every feasible way to defeat it over and over again.

 

You are involved in a few cybersecurity ventures and you also have your own security business. What did you see in Ori that made you want to work with him?

Abagnale: To be honest, I get so many people coming to me with ideas. Most of it is just foolish stuff, and most of it doesn’t work. When Ori got in the car, the first thing I noticed was that he was an extremely ethical person and that he had great character. All the qualities that I look for in people, I saw in him. In those 20 minutes, I knew he had the knowledge, so I encouraged him to leave American Express.

[Eisen] could’ve just said, “I’ve made a lot of money. I’m done.” But within six months, he told me, “We need to do one more thing because we haven’t closed the gap yet. We need to make sure we can verify who is on the other end of that computer.”

 

Do you think the gap’s now been closed?

Abagnale: We’ve sent it out to the best labs in the world for all of them to try to break it, and no one’s been able to break it yet.

 

Ori, you sold your first company, and you just raised $8 million for your second company, Trusona. What advice would you give entrepreneurs about raising funds and exiting successfully?

Eisen: Don’t raise money when you need it. VCs can smell fear. Raise money when you don’t need money. Have the relationship when you don’t need it. Also, If you don’t have passion, don’t do it. You will fail. A lot of people want to become a SEAL, a lot of people want to become a pilot. If you don’t come with a maniacal obsession, you will fail. If you don’t have the hunger, don’t start. Don’t be a “wantapreneur.”

About the Author
By Polina Marinova
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

An overhead map of the location of Pickaxe Mountain and Iran's Natanz nuclear enrichment facility.
North AmericaDonald Trump
Trump threatens to bomb Iran’s deeply buried Pickaxe Mountain nuclear site: ‘There’s not a thing they can do about it’
By The Associated Press and Jon GambrellJuly 24, 2026
1 hour ago
Photo of RFK Jr.
HealthFDA
RFK Jr.’s peptide push narrowly gains backing from FDA advisers despite objections from scientists
By The Associated Press and Matthew PerroneJuly 24, 2026
1 hour ago
Canada celebrates new Detroit River bridge connecting Ontario to Michigan as 50% tariff feud keeps American officials away
North AmericaTariffs
Canada celebrates new Detroit River bridge connecting Ontario to Michigan as 50% tariff feud keeps American officials away
By The Associated Press, Mike Householder and Ed WhiteJuly 24, 2026
1 hour ago
dario
AIEconomics
Anthropic’s head of economics just explained why Anthropic’s CEO was wrong about a white-collar bloodbath
By Nick LichtenbergJuly 24, 2026
2 hours ago
jh
AINvidia
Jensen Huang just used his first ever X post to warn the AI industry not to make the mistake that software narrowly avoided in the 1980s
By Nick LichtenbergJuly 24, 2026
2 hours ago
pjm
EnergyData centers
The AI boom’s hidden electricity bill — and why you’re paying it
By Nick LichtenbergJuly 24, 2026
3 hours ago

Most Popular

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
2 days ago
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
13 hours ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
1 day ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
2 days ago
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
Personal Finance
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
By Joshua HongJuly 23, 2026
2 days ago
Current price of oil as of July 24, 2026
Personal Finance
Current price of oil as of July 24, 2026
By Joseph HostetlerJuly 24, 2026
10 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.