Building on the exciting news of our record-breaking Series A financing, we are proud to announce that Citi Ventures and Goldman Sachs have joined as additional investors in our $543M round of funding.
Mickey Boodaei, Transmit Security Co-Founder and CEO shared his thoughts on our two newest investors:
“We are incredibly honored to have globally recognized investment partners such as Citi Ventures and Goldman Sachs that not only believe in our mission to rid the world of passwords but also believe in our leadership.”
Our unique approach to passwordless authentication increases security while also making things easier for users, who no longer have to authenticate their identity multiple times on different devices or reset forgotten passwords to gain access to their accounts. Our passwordless solution enables our customers to focus on their core business instead of having to solve security and authentication problems.
“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. “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.”
As pioneers in our industry, we are proud to lead the market with our identity experience solutions that create seamless customer experiences across all channels, apps and browsers.
“Many of today’s security breaches start with password-based hacks that leave customers vulnerable, and we believe that Transmit Security is part of the solution to this problem,” said Joe DiSabato, a Managing Director in the Growth Equity business at Goldman Sachs. “From our very first meeting with Mickey and Rakesh, we were struck not only by their deep expertise in cybersecurity, but their passion for and focus on developing a technology that is solving for a global business challenge. We are excited to be part of their journey.”
Our customers include six of the seven largest financial institutions in the U.S., two of the largest merchants in the U.S. and many financial organizations and online service providers throughout Europe, Asia and Latin America.
Through our innovative technology and the trust of all of our investors, we will continue to effectively end the password era and usher in a new wave of secure, frictionless identity experiences across all industries and platforms around the globe. By implementing these solutions organizations are able to improve the user experience, enhance security and satisfy compliance requirements at a fraction of the cost of traditional identity solutions.