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We are excited to be part of their journey." "From our very first meeting with Mickey and Rakesh, we were struck not only by their deep expertise in cybersecurity, but their passion for and focus on developing a technology that is solving for a global business challenge. "The majority of security breaches start with password-based hacks that leave customers vulnerable, and we believe that Transmit Security is part of the solution to this problem," said Joe DiSabato, a Managing Director in the Growth Equity business at Goldman Sachs. "With their deep cybersecurity expertise, Mickey (Boodaei) and Rakesh (Loonkar) are the obvious leadership team to shepherd large organizations into a world where passwords are no longer barriers."
Transmit security password#
"The Transmit Security team is solving a password protection problem that has plagued companies for years, and up until now there has not been a solution that can seamlessly and securely integrate into existing platforms," said Arvind Purushotham, Managing Director and Global Head of Venture Investing at Citi Ventures. Transmit Security will use the funding to increase the company's global reach, expand its operations, and accelerate the company’s mission to help the world go passwordless.
Transmit security series#
Previously bootstrapped, Transmit Security’s Series A funding round brings the company’s pre-money valuation to $2.2 billion.
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The Series A round was led by Insight Partners and General Atlantic with additional investment from Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures. TEL AVIV, Israel & BOSTON, September 14, 2021-( BUSINESS WIRE)- Transmit Security, the Identity Experience™ company, today announced that Citi Ventures and the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) have joined the company’s most recent $543 million Series A funding round, setting a new record in investment history as the largest Series A investment in cybersecurity. Transmit Security is committed to continue making it simpler to manage, maximizing functionality, and provide the best identity experience to millions of users worldwide.įor more information, please visit cybersecurity Series A focuses on ridding the world of passwords Identity and access management continue to evolve and become more complex every day. The investment was led by Insight Partners and General Atlantic, with additional investment from Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures. In June 2021, Transmit Security secured $543M in a record-breaking funding round bringing the company’s pre-money valuation to $2.3 billion and marking the largest Series A funding round in cybersecurity history and one of the highest valuations for a bootstrapped company. This game-changing technology is already in use across a diverse range of sectors including, financial services, online retail, healthcare, and insurance.
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Transmit security install#
In early 2021, Transmit Security led the way again with the introduction of BindID, the first passwordless authenticator that doesn’t require a user to download an app or install anything on their device. In recent years the company has expanded its reach to new segments with significant customer deployments in retail and healthcare. Organizations such as CitiBank, UBS, and MassMutual are transforming their entire identity infrastructure based on the FlexID orchestration platform.
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Loonkar, the entrepreneurs and investors behind Trusteer (acquired by IBM), Imperva (IMPV), Palo Alto Networks (PANW), and many other market leading security technologies.īeginning with the invention of the industry’s first cross-channel identity orchestration platform, Transmit Security has engaged and been quickly adopted at scale by some of the largest global financial institutions. Transmit Security was founded in 2014 by Michael (“Mickey”) Boodaei and Rakesh K. Frictionless authentication solution that includes a game changing mobile biometric authenticator.