#Transmit security valuation series#

“Building a company from zero means you're always the underdog,” Loonkar says. It considers itself as an underdog, says Loonkar, president of the cybersecurity firm.

Transmit Security is competing in the identity authentication segment with companies such as Google, Amazon, Microsoft and Okta. “We've been very close with the VC community from our past… Both Rakesh and I are also private investors, we co-invest with many of the VCs and LPs in the community,” Boodaei says.

#Transmit security valuation series#

This is one of the largest Series A rounds for a cybersecurity company. The founders, as veterans of the cybersecurity industry, credit the smooth progress of the funding round to their already established relationships in the VC community. Israeli cybersecurity startup Transmit Security announced on Tuesday that it has raised USD 543 million in a Series A funding round at a pre-money valuation of USD 2.2 billion. Availability of Web and mobile SDKs helped speed up the implementation 4. We are an API-first platform, and Transmit Security had a very good API catalogue to support our integrations 3. Loonkar says that the deal came together within a matter of months. Transmit Security allows an easy approach to setup configurable authentication / authorisation journeys 2. The series A funding round also included Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures. Transmit Security raised a 543 million Series A, the largest early-stage. The market for its identity authentication products and services is almost 2 million customers, he says. Massachusetts tech unicorns: Transmit Security raises 543M, hits 1B valuation. Infrastructure Security has 34 companies valued at 1 billion or higher. “We need to move fast and that's part of the reason we had this round.”Īs Transmit Security looks to grow, the funding will help the company accelerate development, raise its profile and alert the job market that it will be hiring more employees, Loonkar says. At Transmit Security, we recommend biometric authentication that’s FIDO2 certified. “Gartner predicts … that over the next three years, most organizations are going to move toward a password-less world,” Boodaei says. The level of security offered by biometrics will vary, depending on the implementation. From retailers to healthcare organizations to government entities, a wide gamut of companies want to get rid of passwords, Loonkar says. Transmit Security, headquartered in Boston, Massachusetts, and Tel Aviv, Israel, has a prominent presence in North America with organizations such as Citibank, UBS and MassMutual as its customers.īacked by more financial resources, the company plans to offer its services to entities of smaller scale and size as well. The identity and access management company plans to use the more-than-half a billion dollars to expand globally and across its verticals, Boodaei says. “With biometrics, the biometric is held in the device itself and never goes to the website that tries to authenticate you, so it's decentralized and much more secure,” he says.