![]() ![]() Transmit Security previously raised $40 million in 2017, in a self-funding financing round. ![]() The company’s R&D team is made up of former members of Unit 8200, the elite Israeli Intelligence Corps. Boodaei also cofounded Imperva, a billion dollar provider of cyber and data security products. Loonkar, who previously created online banking security pioneer Trusteer, which was acquired by IBM in 2013. With offices in Tel Aviv and Boston, the company was initially financed by its founders, CEO Mickey Boodaei and president Rakesh K. Transmit Security’s mission is to enable organizations to deliver advanced identity use cases that improve the user experience, enhance security, and satisfy compliance requirements at a fraction of the time and cost of traditional identity solutions. Using biometric authentication, Transmit Security provides the first natively passwordless identity and risk management solution to the largest brands in the world. Transmit Security stresses that outdated and ineffective password-based systems are costing businesses revenue, and cites research which found that weak passwords account for more than 80% of all data breaches. But the company declined to comment on how much of the money raised will be for investment and how much is for buying shares from founders and employees. ![]() Transmit Security says it will use the funding to increase the company's reach and expand its primary business functions, investing in key global areas in order to grow the organization, and ultimately fulfil its vision of a passwordless world. On behalf of the entire Transmit Security team, from Boston to Tel Aviv and everywhere in between, thank you for being part of our vision.Transmit Security claims that this is the largest Series A funding round in cybersecurity history and one of the highest valuations for a bootstrapped company. Through our unique and innovative technology we will make it our mission to effectively end the password era and usher in a new wave of secure, frictionless online identity experiences across all industries and platforms around the globe. By providing a better experience, businesses are able to acquire and retain more customers while lowering identity attrition. Our aim is to assist these organizations every step of the way by offering the most convenient, frictionless and secure customer experience solutions. Still today, many businesses are not aware of the negative impact of a suboptimal identity experience on their business and revenue. Therefore, the impact of your experience has a significant impact on your business results. Identity is at the heart of the user experience - it’s there when you sign up, sign in and check out. This investment will allow us to further increase our innovation leadership within the industry and enhance our global growth operations in key territories: NA, LATAM, EMEA and APAC while also expanding into new global markets. The investment, which comes in as the highest ever Series A round of funding in cyber security history, will accelerate our growth engines and enable us to reach higher achievements.Īs pioneers of our industry, we are proud to lead the market with our identity experience focused solutions - creating seamless customer experiences and further contributing to eliminating the world’s reliance on passwords. Since 2014, serial cyber entrepreneurs, investors and Co-Founders of Transmit Security, Mickey Boodaei and Rakesh Loonkar’s vision has remained unchanged - to rid the world of passwords. We are incredibly excited to share that Transmit Security has raised $543M in funding led by Insight Partners and General Atlantic, with additional investment from Cyberstarts, Geodesic, SYN Ventures, Vintage and Artisanal Ventures. ![]()
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