Eisen Closes $10 Million Series A to Stop Forgotten Funds From Slipping Into State Hands

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Eisen, a startup that helps people avoid losing track of their money to state governments, has raised a $10 million Series A round led by MissionOG. The financing brings the company’s total funding to $18.5 million, which includes a previously unreported $8.5 million seed round led by Index Ventures. First Round Capital, Cowboy Ventures, Homebrew, and Restive Ventures have also backed the company.

The problem Eisen is built around is escheatment, the process by which financial assets are turned over to a state after a defined period of inactivity. Funds can land in escheatment for reasons as ordinary as someone forgetting to log into an account on a financial platform, and balances typically have to sit dormant for three to five years before being handed to the state. States generally liquidate assets such as stocks and crypto, and if no one claims the money, it can sit indefinitely on the state’s balance sheet. Collectively, states hold roughly $70 billion gathered through escheatment.

Eisen sells a service to financial platforms that processes escheatments while also working to locate customers and prevent the handover from happening in the first place. The company takes in large volumes of accounts from its clients, runs them through each state’s set of rules, and aims to reconnect users with their money before it ends up with the state. Co-founder and chief executive Alan Osgood, who previously worked as a product manager at Coinbase, is especially focused on crypto, an asset class that a growing number of states, including New York and California, now treat as escheatable property.

According to the company, the service is gaining traction in the crypto industry following the 2021 bull run, which brought in many new users and could set off a wave of escheatments. Osgood says crypto compliance teams are largely underprepared for that scenario, and that when customer funds go to escheatment, firms risk alienating their users and driving them off their platforms entirely. Eisen is tracking roughly $700 million in crypto assets that are eligible for escheatment in 2026.