![]() Transmit Security created BindID, a customer authentication service that is completely password-free, for this reason. Cybercrime, the international NGO reports, cost the global economy USD 2.9 million every minute in 2020. The World Economic Forum reported that around 80% of cyberattacks are related to passwords. Transmit Security said it will use the funding to increase its reach and expand its primary business functions, investing in key global areas to grow the organization. Transmit employs 100 people with headquarters in Tel Aviv and additional offices in Boston, London, Berlin, Tokyo, Hong Kong, Madrid, Sao Paulo, and Mexico City. The company’s solutions, which include an app-less biometric authenticator, ensure an effortless and passwordless experience, reducing all forms of identity attrition and saving costs for enterprises. ![]() The funding round was led by Insight Partners and General Atlantic, with additional investment from Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures.įounded in 2014 by Mickey Boodaei and Rakesh Loonkar, Transmit Security creates what it calls “identity experiences” for customers and workforces across multiple channels. This is one of the largest Series A rounds for a cybersecurity company. 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. ![]()
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