#Transmit security series#

The series A funding round also included Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures. The market for its identity authentication products and services is almost 2 million customers, he says. “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. “Gartner predicts … that over the next three years, most organizations are going to move toward a password-less world,” Boodaei says. 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.

Transmit Security’s customers are responsible for more than $1.3 trillion in annual commerce and include many of the largest banks, insurers, and retailers, along with many other leading brands.įor more information, please visit 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. CX-focused, cybersecurity-conscious businesses rely on Transmit Security to deliver innovative, passwordless digital identity journeys for their consumers across all channels and devices. Transmit Security is on a mission to revolutionize consumer identity and access management by reimagining customer experience (CX) and eliminating account takeover fraud and similar risks. They will be presenting, “Fortify Security and Remove Customer Barriers with Passwordless” on Friday at 2:45pm. Transmit Security is a Platinum Sponsor at the Gartner Identity & Access Management Summit on May 12-13 in London (booth 202). Altogether, the company’s customers in EMEA represent over €330 billion in annual revenues. Transmit Security helps its customers in the region address many customer identity challenges, including improving customer experience across their digital channels while strengthening authentication against phishing and other threats. Transmit Security’s customers in EMEA include HSBC, UBS, Telepass S.p.A., Santander, MetroBank and NN Insurance, and dozens of other regional and global companies. With the growing demand in Europe, Transmit Security has invested heavily in the region, more than doubling its Europe-based employees and growing by 255% across EMEA, including its corporate headquarters in Tel Aviv. Our customers know they have to serve their consumers digitally, no matter where they are or what devices they use.”Ĭonsumers around the world report that they prefer better security and smooth customer experience businesses are increasingly turning to passwordless authentication as the solution. “The pandemic-fuelled growth in mobile app usage along with the brick-and-mortar return of consumers means businesses need stronger, easy-to-use authentication that works across all of their channels. With the increase in account takeover fraud, we’re seeing substantial demand for passwordless customer authentication that doesn’t require a specialized app or token,” says Rabe. “Our expansion comes at a critical time, not just for us, but for the market here in Europe. Thore has over 20 years leading European divisions at Qumulo, Dell EMC, NetApp, Fujitsu Siemens, and Computer Associates and earned his doctorate in Economic Sciences. Rabe oversees all aspects of Transmit Security’s business in EMEA. Thore Rabe as the new Vice President and General Manager for Europe, Middle East and Africa (EMEA). TEL AVIV, Israel & BOSTON-( BUSINESS WIRE)- Transmit Security, a leading provider of customer identity and access management (CIAM) SaaS solutions, today announced its significant expansion and growth in Europe to address rapidly growing demand for passwordless customer authentication and other solutions.

Transmit security