Transmit Security, the Identity Experience Company, today announced that Goldman Sachs has recognized President and Co-Founder Rakesh Loonkar as one of the 100 Most Intriguing Entrepreneurs of 2021 at its Builders + Innovators Summit in Healdsburg, California. This will be the second year in a row in which he was selected as an honoree for the two-day event.
Rakesh Loonkar wields an impressive track record of cybersecurity successes and has founded multiple touchstone ventures over the last two decades. He is currently the President and Co-Founder of Transmit Security, where he leads and inspires the sales, services, support and pre-sales engineering teams.
As an active voice, pioneer and mentor in the cyber industry, Loonkar has personally invested in many promising cybersecurity startups which have evolved into industry leaders, such as Palo Alto Networks, Trusteer and ZScaler. Previously, Loonkar founded OneSecure (acquired by Juniper Networks) and co-founded Trusteer (acquired by IBM).
Rakesh Loonkar and Mickey Boodaei founded Transmit Security in 2014, and the company has enjoyed a series of groundbreaking successes over the following seven years. Under Loonkar’s guidance, Transmit Security recently completed a record-breaking Series A round of funding by raising $543 million in capital — the largest Series A in the history of cybersecurity.
“I am honored to be recognized by Goldman Sachs. This award is truly meant for the entire Transmit Security team who work tirelessly to provide our customers and the world with the best identity experiences possible by helping customers eliminate passwords. It is very gratifying to see a company like Goldman Sachs recognize our hard work.”
David M. Solomon, Chairman & CEO of Goldman Sachs adds, “Innovation doesn’t happen just anywhere; it thrives where there’s a wide range of thoughts and perspectives. One of our great strengths is our ability to bring together people from different walks of life and to spark conversations today that will lead to breakthroughs tomorrow. The leaders we’ve chosen to highlight at our Builders + Innovators Summit are truly remarkable, and we are pleased to recognize Rakesh Loonkar as one of this year’s most intriguing entrepreneurs.”
Loonkar has imprinted his own pioneering DNA on Transmit Security, shaping the company’s vision and culture around a central mission: to innovate and develop the world’s most effective, customer-centric cybersecurity. For Rakesh Loonkar, a fantastic customer experience and ironclad security are not mutually exclusive:
“The fact that we have raised a record amount of funding is a clear indication that the world is ready to eliminate passwords,” says Loonkar. “They’re ready to embrace biometric authentication technology so that they can deliver enhanced user experiences combined with significantly heightened levels of security.
“With security and customer experience at the forefront of any organization today, I believe that the identity security industry requires a mix of an amazing product, innovation and a true understanding of customers’ needs and expectations. This award represents a major win for Transmit Security and our mission to make passwords obsolete.”
In addition to honoring 100 entrepreneurs, the summit consists of general sessions and clinics led by seasoned entrepreneurs, academics and business leaders as well as resident scholars.
About Transmit Security
Transmit Security is on a mission to revolutionize the identity experience market. From onboarding to authentication to smart authorization for both customers and workforce across every channel, our technology reduces all forms of identity attrition and saves enterprises substantial costs. Around the world, large enterprises are standardizing on Transmit Security to introduce innovative digital identity journeys. 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, merchants and online service providers in Europe, Asia and Latin America.