Transmit Security
| File:Transmit Security logo.png | |
| Company type | Private |
|---|---|
| Industry | Software |
| Founded | 2014 |
| Founders | Rakesh Loonkar Mickey Boodaei |
| Headquarters | |
Area served | Worldwide |
Key people |
|
| Products | BindID,[1] FlexID, WorkID[2] |
| Website | www |
Transmit Security is a privately held firm specializing in cybersecurity and identity and access management, operating from both Tel Aviv, Israel, and Boston, Massachusetts. Established in 2014 by founders Mickey Boodaei and Rakesh Loonkar, the company delivers solutions in customer authentication, identity orchestration, and workforce identity management.[3] In June 2021, Transmit Security secured $543 million through a Series A funding round, marking what was reported as the largest Series A investment ever recorded in the cybersecurity sector.[4][5] The company also holds a position on the FIDO Alliance Board.[6]
History
Founded in 2014 by Mickey Boodaei and Rakesh Loonkar, Transmit Security builds upon their earlier venture, Trusteer, which they launched in 2006. IBM acquired Trusteer in 2013 for $1 billion.[7]
In February 2021, Transmit Security became a member of the FIDO Alliance Board.[8][9]
The company's landmark Series A financing round closed in June 2021 with $543 million raised, reportedly the largest Series A investment in cybersecurity history. Leading investors included Insight Partners and General Atlantic, alongside contributions from Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures. Later that year, in September 2021, additional funding was secured from Citi Ventures and Goldman Sachs Asset Management.[10][11] Their flagship product BindID enables biometric authentication through devices such as smartphones or biometric scanners, eliminating reliance on passwords that are susceptible to cyberattacks. Clients include prominent financial institutions like UBS, HSBC, Bank Leumi, and International Bank, as well as companies across telecommunications and retail sectors.[12]
Operations
Transmit Security’s primary corporate office is situated in Tel Aviv, Israel, while its North American base operates out of Boston, Massachusetts. Additional branch offices can be found in London, Berlin, Tokyo, Hong Kong, Madrid, São Paulo, and Mexico City.
See also
References
- ↑ "Transmit Security launches BindID to replace passwords with biometric authentication". VentureBeat. 25 February 2021. Retrieved 12 January 2022.
- ↑ "New comer Transmit Security wants to simplify biometric authentication". TechCrunch. Retrieved 12 January 2022.
- ↑ "Cool Vendors in Identity and Access Management". Gartner. Retrieved 12 January 2022.
- ↑ Shrivastava, Rashi. "Transmit Security Raises $543 Million, The Largest Series A Funding Round In Cybersecurity History". Forbes. Retrieved 12 January 2022.
- ↑ Murphy, Hannah (3 September 2021). "The start-ups trying to kill the password". Financial Times. Retrieved 12 January 2022.
- ↑ "FIDO Leadership". FIDO Alliance.
- ↑ Shamah, David. "Opening new doors: Why IBM spent $1bn on security firm Trusteer". ZDNet. Retrieved 12 January 2022.
- ↑ "Transmit Security Joins FIDO Alliance Board - Transmit Security Blog". www.transmitsecurity.com. 9 February 2021.
- ↑ Mascellino, Aless (10 February 2021). "Biometrics, digital ID alliances joined by Princeton Identity, Idemia, ATB Ventures, Transmit Security | Biometric Update". www.biometricupdate.com. Retrieved 12 January 2022.
- ↑ "Transmit Security Raises $543 Million for Password-Free Future". Bloomberg.
- ↑ "Transmit Security raises $543M Series A to kill off the password". TechCrunch. Retrieved 12 January 2022.
- ↑ דור, אופיר (2021-06-22). "אחרי 7 שנים ללא מימון, מיקי בודאי מקבל את אחת ההשקעות הגדולות". Globes. Retrieved 2025-07-09.