Headquartered in San Francisco with offices in New York, London, Palo Alto, Tel Aviv and Singapore, Citi Ventures accelerates discovery of new sources of value by exploring, incubating and investing in new ideas, in partnership with Citi colleagues, our clients, and the innovation ecosystem. With Transmit Security, organizations can deliver advanced identity solutions that improve the user experience, enhance security, and satisfy compliance requirements at a fraction of the time and cost of traditional identity solutions.Ĭiti Ventures harnesses the power of Citi to help people, businesses and communities thrive in a world of technological change. Transmit Security provides the first natively passwordless identity and risk management solution to the world’s largest enterprises. "That means our customers can focus on their core business instead of having to solve security and authentication problems." Our approach to passwordless authentication increases security while also making things easier for individuals, who no longer have to authenticate their identity multiple times on different devices or reset forgotten passwords to gain access," said Transmit Security CEO and Co-Founder Mickey Boodaei. "We are incredibly honored to have globally recognized investment partners like Citi Ventures and Goldman Sachs that not only believe in our mission to rid the world of passwords, but also partners that believe in our leadership. "With their deep cybersecurity expertise, Mickey (Boodaei) and Rakesh (Loonkar) are the obvious leadership team to shepherd large organizations into a world where passwords are no longer barriers."
TRANSMIT SECURITY PASSWORD
"The Transmit Security team is solving a password protection problem that has plagued companies for years, and up until now there has not been a solution that can seamlessly and securely integrate into existing platforms," said Arvind Purushotham, Managing Director and Global Head of Venture Investing at Citi Ventures. Transmit Security will use the funding to increase the company's global reach, expand its operations, and accelerate the company’s mission to help the world go passwordless.
TRANSMIT SECURITY SERIES
Previously bootstrapped, Transmit Security’s Series A funding round brings the company’s pre-money valuation to $2.2 billion. The Series A round was led by Insight Partners and General Atlantic with additional investment from Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures. TEL AVIV, Israel & BOSTON, September 14, 2021-( BUSINESS WIRE)- Transmit Security, the Identity Experience™ company, today announced that Citi Ventures and the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) have joined the company’s most recent $543 million Series A funding round, setting a new record in investment history as the largest Series A investment in cybersecurity. From the industry’s first app-less biometric authenticator to its state-of-the-art low-code identity orchestration platform, Transmit Security is a recognized leader in identity and risk innovation, solving the most critical authentication and risk challenges across the entire organization from the data center to the cloud.Historic cybersecurity Series A focuses on ridding the world of passwords Its mission is to enable organizations to deliver advanced identity use cases that improve the user experience, enhance security, and meet compliance mandates at a fraction of the time and cost of traditional identity solutions. Transmit Security provides advanced authentication and risk management solutions to the largest enterprises in the world. Organizations get an accurate and frictionless customer authenticator that is easy to deploy into any channel and doesn’t require specialized applications. Shared trust at the user, device, and network levels, allows other biometric-enabled devices such as laptops and tablets to be associated with accounts, provides secure device re-enrollment, and delivers up-to-date profile information across the entire BindID member network. With one-click to create new or sign into existing accounts, BindID eliminates passwords and the inconveniences of traditional credential-based logins.
TRANSMIT SECURITY PORTABLE
BindID™ is the industry’s first app-less, strong portable authenticator that uses device-based biometrics for secure, convenient and consistent customer authentication.
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