Transmit Security Overview
Transmit Security provides modular, plug-and-play customer identity access management (CIAM) services for authentication, risk detection, and identity verification. The company combines developer-friendly design with robust security to improve the user experience. Users can integrate Transmit Security's cloud-native CIAM services to extend their identity capabilities across all channels and devices. Services include multifactor authentication, social logins (e.g., Google, Apple, and Facebook), passwordless authentication, biometric and FIDO standards (passkey/WebAuthn), magic links, one-time passwords, and single sign-on. The company also offers real-time fraud protection services to protect against bad actors and prevent account takeovers, such as via session hijacking, device spoofing, malicious bots, and phishing. Transmit Security's identity verification uses facial scans with liveness detection and government document proofing. The Transmit Security CIAM platform includes real-time services that improve customer experience and help improve registration rates, reduce cart abandonment, and accelerate conversion while improving security and protection from account takeover fraud.
Cumulative Funding Raised Over Time ($)
$543.0MJun 2021
Latest News
growth-positive
The future of CIAM: How Transmit Security and Microsoft are reshaping passkey adoption and security | Microsoft Community Hub
The article discusses the benefits of using Transmit Securitys Mosaic solution in conjunction with Azure AD B2C or Entra External ID to enhance customer identity and access management (CIAM) through the use of passkeys. The partnership with Microsoft enables organizations to improve security, compliance, and customer experience by adopting phishing-resistant passkeys. The article highlights the advantages of using Mosaic, such as reduced authentication failures, fewer support calls, and improved fraud detection. It also emphasizes the importance of behavioral biometrics and robust device identification in securing the passkey lifecycle. The integration with Azure Marketplace allows for seamless deployment and cost savings.
PartnersCustomers
Transmit Security partners with HYPE transforming digital identity
growth-positive
Fight fraud across the full identity lifecycle with Transmit Security and Microsoft
Transmit Security, in partnership with Microsoft, is offering businesses ways to launch a formidable defense against AI-based cyber activity and threat actors. The partnership aims to build long-term digital resilience by securing identities in an increasingly digital world. The 2023 Digital Defense Report by Microsoft highlights the alarming frequency and sophistication of identity attacks, underscoring the need for robust security solutions. Transmit Security leverages the power of AI and machine learning to improve identity security and fraud prevention. The companys services are now available on Microsoft Azure Active Directory B2C.
Partners
Transmit Security and Azure Active Directory B2C help to prevent fraud across the full customer identity lifecycle
growth-positive
Transmit Security Achieves the Triple Crown - Now Available on AWS, Microsoft Azure and Google Cloud Marketplaces | Transmit Security
Transmit Security has announced that its services are now publicly available on the Google Cloud Marketplace, expanding its strategic partnerships. This follows its availability on Amazon Web Services (AWS) Marketplace and Microsoft Azure Marketplace. The companys services include detection and response service, phishing-resistant authentication, identity verification, data validation, and orchestration. The expansion allows companies to maximize their committed cloud budgets while harnessing Transmit Securitys customer identity and access management (CIAM) capabilities. The company is now the only CIAM vendor available on the top three cloud marketplaces.
PartnersExpand
| Sector | Cyber Security |
Funding
| Total funding | $543M |
| Last funding | $543M |
| Stage | A |
| Rounds | 1 |
| Investors | 9 |
Team Members
3
Employees: 201-500
Web & Social Links
| Website | transmitsecurity.com |
| Careers | Careers page |
Locations
Yigal Alon St 94, Tel Aviv, Israel
500 Boylston Street, Boston, MA, USA
Photos & Videos
4 item(s)
Transmit Security Business
Business models
B2B, B2B2C
Product stage
Released
Employees
201-500
Sector
Fintech & InsurtechCyber SecurityIdentity SecurityTarget Customer
Financial ServicesFood Retail & ConsumptionCommerce & RetailTravel & TourismCommunication ServicesHealthcare & Life SciencesEnterprise & Professional ServicesEnterprisesTransportation & LogisticsCore Technology
Platforms & InterfacesSensingBiometricsTags (19)
biometricscross-platformcyber-securityorchestrationunicorn-2021enterprisesauthenticationretailersfinancial-institutionsmulti-factor-authenticationbanksanti-fraudidentity-verificationiamuser-experienceinsurance-companieshealthcare-providersretailsecuritySolutions
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{"title":"Cross-Industry (Financial Services, E-commerce, Digital Services)","description":"Automated identity verification platform that prevents fraud, ensures compliance, and streamlines customer onboarding processes across various industries.","items":[{"name":"Revenue Growth","value":4,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Operational Efficiency","value":4,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Customer Acquisition","value":4,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Risk Mitigation","value":5,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Disruptive / Paradigm-Shifting","content":"Revolutionary, industry-leading change that sets new benchmarks and norms."}},{"name":"Talent Development","value":3,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Agility & Innovation","value":4,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}}]}
{"title":"Cross-Industry","description":"Transmit Security's CIAM Modernization platform provides a comprehensive suite of tools for managing customer identities, offering secure, frictionless, and personalized user experiences through passwordless authentication, advanced fraud detection, and flexible identity orchestration, while reducing operational costs and accelerating innovation.","items":[{"name":"Revenue Growth","value":4,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Operational Efficiency","value":4,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Customer Acquisition","value":5,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Disruptive / Paradigm-Shifting","content":"Revolutionary, industry-leading change that sets new benchmarks and norms."}},{"name":"Risk Mitigation","value":5,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Disruptive / Paradigm-Shifting","content":"Revolutionary, industry-leading change that sets new benchmarks and norms."}},{"name":"Talent Development","value":3,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Agility & Innovation","value":4,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}}]}
{"title":"Cybersecurity / Identity & Access Management","description":"Transmit Security's Identity Orchestration platform unifies and simplifies identity management across an organization's tech stack, enabling codeless integration of authentication, authorization, and fraud detection services to create seamless, secure, and adaptive user journeys.","items":[{"name":"Revenue Growth","value":3,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Operational Efficiency","value":4,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Customer Acquisition","value":4,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Risk Mitigation","value":5,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Disruptive / Paradigm-Shifting","content":"Revolutionary, industry-leading change that sets new benchmarks and norms."}},{"name":"Talent Development","value":3,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Agility & Innovation","value":4,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}}]}
{"title":"Cybersecurity","description":"Transmit Security's Account Protection solution uses AI/ML to detect and prevent account takeover (ATO) attacks, bot attacks, and other forms of online fraud. It protects user accounts, data, and transactions across web, mobile, and API channels through real-time detection, behavioral biometrics, and risk-based authentication.","items":[{"name":"Revenue Growth","value":3,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Operational Efficiency","value":4,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Customer Acquisition","value":4,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Risk Mitigation","value":5,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Disruptive / Paradigm-Shifting","content":"Revolutionary, industry-leading change that sets new benchmarks and norms."}},{"name":"Talent Development","value":3,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Agility & Innovation","value":4,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}}]}
Use Cases
Full Stack AuthenticationIdentity VerificationUser ManagmentIdentity OrchestrationAccount ProtectionGeographic Markets
GlobalTransmit Security Financials
$543M
Total funding
Undisclosed
Capital raised
$543M
Last funding
A
Funding stage
1
Total rounds
9
Investors
Cumulative Funding Raised Over Time ($)
$543.0MJun 2021
Private Equity Funding
A Round
Jun 2021
$543M
Insight Partners (Lead)
,
Citi Ventures, SYN Ventures, Vintage Investment Partners, Artisanal Ventures, Goldman Sachs Bank USA, CyberStarts, General Atlantic, Geodesic Capital
Transmit Security Lifecycle
Cumulative Funding Raised Over Time
$543.0MJun 2021
All Events
A Round
Jun 2021
$543M
Insight Partners (Lead)
,
Citi Ventures, SYN Ventures, Vintage Investment Partners, Artisanal Ventures, Goldman Sachs Bank USA, CyberStarts, General Atlantic, Geodesic Capital
Transmit Security News
26 articles
growth-positive
The future of CIAM: How Transmit Security and Microsoft are reshaping passkey adoption and security | Microsoft Community Hub
The article discusses the benefits of using Transmit Securitys Mosaic solution in conjunction with Azure AD B2C or Entra External ID to enhance customer identity and access management (CIAM) through the use of passkeys. The partnership with Microsoft enables organizations to improve security, compliance, and customer experience by adopting phishing-resistant passkeys. The article highlights the advantages of using Mosaic, such as reduced authentication failures, fewer support calls, and improved fraud detection. It also emphasizes the importance of behavioral biometrics and robust device identification in securing the passkey lifecycle. The integration with Azure Marketplace allows for seamless deployment and cost savings.
PartnersCustomers
Transmit Security partners with HYPE transforming digital identity
growth-positive
Fight fraud across the full identity lifecycle with Transmit Security and Microsoft
Transmit Security, in partnership with Microsoft, is offering businesses ways to launch a formidable defense against AI-based cyber activity and threat actors. The partnership aims to build long-term digital resilience by securing identities in an increasingly digital world. The 2023 Digital Defense Report by Microsoft highlights the alarming frequency and sophistication of identity attacks, underscoring the need for robust security solutions. Transmit Security leverages the power of AI and machine learning to improve identity security and fraud prevention. The companys services are now available on Microsoft Azure Active Directory B2C.
Partners
Transmit Security and Azure Active Directory B2C help to prevent fraud across the full customer identity lifecycle
growth-positive
Transmit Security Achieves the Triple Crown - Now Available on AWS, Microsoft Azure and Google Cloud Marketplaces | Transmit Security
Transmit Security has announced that its services are now publicly available on the Google Cloud Marketplace, expanding its strategic partnerships. This follows its availability on Amazon Web Services (AWS) Marketplace and Microsoft Azure Marketplace. The companys services include detection and response service, phishing-resistant authentication, identity verification, data validation, and orchestration. The expansion allows companies to maximize their committed cloud budgets while harnessing Transmit Securitys customer identity and access management (CIAM) capabilities. The company is now the only CIAM vendor available on the top three cloud marketplaces.
PartnersExpand
Not applicable
Citi & Transmit Security: The Power of Partnership | Transmit Security
The article discusses various aspects of identity management including identity orchestration, fraud prevention, identity verification, authentication services, and AI-based analytics. Identity orchestration involves consolidating the identity stack, centralizing decisioning, and automating customer journeys to mitigate risk. Fraud prevention involves monitoring and analyzing signals to detect risk, trust, fraud, bots, and behavior. Identity verification involves verifying customer identities with automated ID and selfie analysis. Authentication services involve authenticating customers with passkeys, passwordless, email magic links, and other MFA methods. AI-based analytics involve using conversational AI to uncover anomalies, trends, and new insights.
Not applicable
growth-positive
Office Tour: Transmit Security Offices - Tel Aviv
ON STUDIO has completed the office design for Transmit Security in Tel Aviv, Israel. The design incorporates industrial style and rustic materials to create a personalized space that combines the feeling of working in an office with the comfort of a living room. The office includes a cafeteria area that serves as a gathering space for employees. The article does not mention any specific partners, customers, valuation amount, acquisition amount, investment amount, layoffs, or date of the event.
Partners
growth-positive
Implementing a True Passwordless Authentication with Amazon Cognito and Transmit Security | Amazon Web Services
The article discusses how Amazon Web Services (AWS) customers can use Amazon Cognito for passwordless authentication by leveraging Transmit Security. Transmit Security provides a strong passwordless authentication service that eliminates the need for passwords and combines device-based FIDO2 biometrics and the OpenID Connect (OIDC) protocol. The article provides a solution walkthrough for integrating Transmit Security as the identity provider (IdP) with Amazon Cognito. The key theme of the article is passwordless authentication. The key issues discussed in the article are related to customers and partners. The date of the event described in the article is not mentioned. The confidence level of the answer is 8.
CustomersPartners
growth-positive
How to Fortify Microsoft Azure AD B2C with True Passwordless MFA from Transmit Security
The article discusses the problems with passwords and the rise of password attacks. It highlights the importance of strong multifactor authentication (MFA) and the vulnerabilities of current MFA methods. It introduces passwordless MFA based on FIDO2 standards, which eliminates shared secrets and provides a faster and more secure login experience. The article mentions Transmit Securitys passwordless MFA solution and its integration with Microsoft Azure Active Directory B2C. It emphasizes the benefits of passwordless authentication and the partnership between Transmit Security and Microsoft. The article also mentions the Transmit Security Account Protection service for real-time risk assessment and defense against account takeover fraud.
Partners
Transmit Security - Only Vendor Named an Overall Leader Simultaneously in KuppingerCole Leadership Compass Reports for Passwordless Authentication, CIAM Platforms and Fraud Reduction Intelligence Platforms
growth-positive
Microsoft And Transmit Security Partner To Deliver Passwordless MFA For Companies Using Azure AD B2C To Authenticate Customers - Transmit Security
Microsoft is partnering with Transmit Security to enhance the Azure Active Directory B2C platform with passwordless customer authentication. This collaboration aims to strengthen security and meet compliance standards for strong multi-factor authentication. The partnership allows companies using Azure to authenticate customers based on their true identities, reducing reliance on passwords and friction-filled MFA. The article highlights the growing demand for passwordless authentication and the need for stronger security measures due to the increase in account takeover fraud during the pandemic. Microsofts goal is to extend passwordless authentication across all platforms, devices, and applications. The article emphasizes the drawbacks of passwords and standard MFA, such as customer friction and vulnerability to attacks. The partnership between Microsoft and Transmit Security offers a biometric-based solution for secure and convenient authentication, eliminating the need for passwords.
Partners
Transmit Security Expands in Europe
Transmit Security Named to Fast Company's List of the World's Most Innovative Companies for 2022
growth-positive
מיקי בודאי: "בעוד כמה שנים אסור יהיה להשתמש בסיסמאות" כלכליסט
Mickey Boodaei, CEO and founder of Transmit Security, spoke at the TECH TLV conference and stated that passwords are the number one cyber threat and will be obsolete in a few years. He believes that biometric identification, such as facial recognition or fingerprint scanning, will replace passwords. Boodaei emphasized the importance of eliminating passwords entirely to prevent account takeovers. He also discussed the vulnerability of using passwords in conjunction with biometric authentication, as attackers can still gain access to accounts. Boodaei suggested that the solution is to rely solely on biometric identification. Transmit Security is a successful cybersecurity company in Israel.
Customers
Transmit Security Announces Citi Ventures and Goldman Sachs Asset Management as Additional Investors on Its Record-setting $543 Million Series A Funding Round
growth-positive
Biometric authentication co Transmit Security raises $543m
Israeli cybersecurity company Transmit Security has completed a $543 million Series A financing round, led by Insight Partners and General Atlantic. The funding brings the companys valuation to $2.2 billion. Transmit Security plans to use the investment to expand its reach and grow its business functions, with a focus on achieving its vision of a passwordless world. The company provides passwordless identity and risk management solutions using biometric authentication. Transmit Security aims to revolutionize the way companies interact with customers by eliminating passwords, improving user experience, and enhancing security. The funding indicates a growing demand for passwordless authentication technology. Transmit Securitys customers include major financial institutions and merchants in the US and Europe.
Investment
Growth-positive
"You need a lot of willpower to reject the money being pushed on you these days"
Transmit Security, a cybersecurity firm founded by Mickey Boodaei and Rakesh Loonkar, has generated $100 million in annual revenues without raising any external capital. The company, which developed an app-free portable authenticator using device-based biometrics for customer authentication, has a 50% growth rate. It counts major banks such as UBS, Wells Fargo, Santander, HSBC, and Israel’s Bank Leumi among its clients. Boodaei has stated that the company will eventually go public, but not through a SPAC merger.
CustomersPublic Trading
Transmit Security Signals the End of the Password Era with Industry's First Authentication Service that Enables Organizations to Delete all Customer Passwords from Their Database
Transmit Security Joins FIDO Alliance Board to Help Rid the World of Passwords
growth-positive
Transmit Security executives discuss the impact of Covid-19 on the cyber industry
Transmit Securitys co-founders discuss how Covid-19 and lockdowns have accelerated the cybersecurity business. They highlight the importance of protecting information and communication while employees work from home. Transmit Security offers a low code passwordless identity platform to authenticate users identities across various channels and devices. Effective vaccines are still years away, and the new normal of remote work is expected to continue. The company sees the digital world becoming bigger and benefiting the cybersecurity sector.
Customers
growth-positive
Cool Vendors in Identity and Access Management
The article discusses the importance of achieving a great user experience and supporting digital transformation and optimization in digital businesses. It highlights the need for security and risk management leaders to seek solutions from Cool Vendors to meet these objectives. The article is published by Gartner, a research firm.
Partners
Transmit Security Wins Javelin's 2018 Mobile Biometrics Platform Leader Award
growth-positive
A Serial Entrepreneur Identifies The Sweet Spot Between Customer Experience And Security
Mickey Boodaei, co-founder of cybersecurity firms Imperva and Trusteer, has discussed his latest venture, Transmit Security. The company, which Boodaei founded with Rakesh Loonkar, provides a cross-channel identity platform designed to simplify and reduce the cost of identity-related projects. Boodaei and Loonkar self-funded the start-up, which focuses on large enterprises with millions of end-user customers. Most of Transmit Securitys customers to date have been banks, insurance companies, telcos, and retailers. The platform significantly shortens time-to-market for customers, allowing them to manage more technologies more easily and significantly reduce integration and maintenance costs of identity-related projects.
CustomersInvestment
growth-positive
Transmit Security Announces Second Major Bank Deployment in Israel - FindBiometrics
The First International Bank of Israel (FIBI) has implemented the Transmit Security Platform to meet regulatory mandates for risk-based multi-factor authentication. Transmit Securitys platform, called Transmit SP, can add any form of authentication to any application. FIBI is the second major bank in Israel to deploy the solution. The deployment process with FIBI took less than two months. Transmit Securitys CEO, Mickey Boodaei, was recently named one of the eight members of HSBCs new Technology Advisory Board.
Customers
Transmit Security Makes Passwords Obsolete Using Mobile Device as Primary Authenticator Across All Channels
growth-positive
New comer Transmit Security wants to simplify biometric authentication
Transmit Security, a startup that aims to simplify the implementation of biometric authentication for developers, has launched with $40 million in self-funding. The companys platform allows developers to add advanced authentication techniques, such as eye, fingerprint or facial recognition, via a users mobile device. The solution can be installed on-premises in a data center or private cloud, or in the public cloud. Transmit Security was founded by Rakesh Loonkar and Mickey Boodaei, who previously launched Trusteer, which was sold to IBM for $1 billion in 2013.
InvestmentCustomers
Transmit Security Team
Employee Info
| Employees (range) | 201-500 |
| Exact count | 312 |
| Team members | 3 |
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Transmit Security Internal
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Admin Info
| Confidence | 101/100 |
| Missing | markets |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 514950906 |
| Crunchbase | transmit-security |
| Phone | +972722216310 |
| Last updater | Yanina Wainscheinker |
| Updater email | yanina.wainscheinker@sncentral.org |
| Last update | 2023-10-04T00:00:00.000Z |
| Created | 2016-04-06T00:00:00.000Z |
| Claimed | Yes |