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BlockBeats News, May 19th, according to Fortune magazine, Eisen announced the completion of a $10 million Series A funding round, led by MissionOG, bringing its total funding to $18.5 million. Previously, the company had completed an $8.5 million seed round led by Index Ventures, which was not publicly disclosed. Other participants in this round include First Round Capital, Cowboy Ventures, Homebrew, and Restive Ventures.
Eisen provides a service to financial platforms to facilitate the process of "unclaimed property transfers," helping locate clients and prevent funds from being escheated to U.S. state governments after being unclaimed.
The company's co-founder Osgood (formerly a product manager at Coinbase) has a particular focus on the cryptocurrency asset space. An increasing number of states are starting to consider cryptocurrency assets as transferable unclaimed property. While individual amounts may be small, the overall scale is significant: U.S. states collectively hold approximately $70 billion in unclaimed funds through the escheatment process, where assets are turned over to the state government after an extended period of account dormancy.
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