Transmit Security
Funding History
| Series A · 06/2021 | $543M |
|---|
About
Transmit Security remains a privately held company. It has not been acquired by, nor consolidated into, a public parent, and it does not appear to be listed on any public stock exchange.
- Founded
- 2014
- Headquarters
- Tel Aviv, Israel (with North American headquarters in Boston, Massachusetts)
- Total Disclosed Funding
- $543 million (single disclosed Series A)
- Latest Round
- $543M Series A (06/2021)
- Valuation Status
- Unicorn (over $1 billion) following its Series A, per Wikipedia -- no precise post-money figure independently verified this session
- Founders
- Mickey Boodaei and Rakesh Loonkar
Overview
Transmit Security is a private, Israeli-founded identity security company that provides a cloud-native customer identity and access management (CIAM) platform combining identity orchestration, biometric and passwordless authentication, fraud prevention, and identity verification, alongside separate workforce identity management capabilities. Its named products have included BindID (biometric authentication), FlexID, and WorkID.
The company was founded in 2014 by Mickey Boodaei and Rakesh Loonkar, who had previously founded Trusteer, an online-fraud-prevention company they built and sold to IBM in 2013 for a reported $1 billion. Transmit Security is headquartered in Tel Aviv, Israel, with a North American headquarters in Boston, Massachusetts, and additional offices reported in London, Berlin, Tokyo, Hong Kong, Madrid, Sao Paulo, and Mexico City.
In June 2021, Transmit Security closed a $543 million Series A round, reported at the time as the largest Series A financing in cybersecurity history, and reached unicorn status (a valuation over $1 billion) as a result. The round was led by Insight Partners and General Atlantic, with participation from Cyberstarts, Geodesic, SYN Ventures, and Vintage and Artisanal Ventures; Citi Ventures and Goldman Sachs Asset Management joined as additional investors that September. Transmit Security has not publicly disclosed any funding round since this Series A.
Transmit Security counts large, security-conscious enterprises among its customers, including banks and financial institutions such as UBS, HSBC, and Bank Leumi, alongside telecommunications and retail customers, per Wikipedia.
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