Transmit Security

Company Overview

Snapshot

Founded in July 2014 by Mickey Boodaei and Rakesh K Loonkar, Transmit Security operates with 201–500 employees. The company has raised a total of $543,000,000 across one funding round from 9 investors, with Insight Partners leading the round. In September 2023, Transmit Security partnered with Azure Active Directory B2C to enhance fraud prevention across the customer identity lifecycle.

Business overview

Transmit Security delivers modular, plug-and-play customer identity access management (CIAM) services, focusing on authentication, risk detection, and identity verification. The company's core technology combines developer-friendly design with robust security to improve user experience. Its cloud-native CIAM services extend identity capabilities across various channels and devices, offering multifactor authentication, social logins, passwordless authentication, biometric and FIDO standards, magic links, one-time passwords, and single sign-on. Transmit Security also provides real-time fraud protection against account takeovers and offers identity verification through facial scans with liveness detection and government document proofing. The platform serves industries such as financial institutions, retailers, insurance companies, and healthcare providers, aiming to improve registration rates, reduce cart abandonment, and accelerate conversion while enhancing security.

Strategic signal

In June 2024, Transmit Security deepened its collaboration with Microsoft, focusing on fighting fraud across the full identity lifecycle. This partnership signals a strategic move towards integrating advanced identity and fraud prevention capabilities within major enterprise ecosystems, indicating a strong validation of Transmit Security's technology and its potential for broader market adoption in securing digital identities.

Company Intelligence Q&A

What is Transmit Security's primary focus?

Transmit Security specializes in customer identity access management (CIAM), providing services for authentication, risk detection, and identity verification to improve user experience and security.

When did Transmit Security raise its Series A funding round?

In June 2021, Transmit Security raised $543,000,000 in its Series A funding round. Insight Partners and Citi Ventures were among the investors.

What was a key partnership announced by Transmit Security in 2023?

In September 2023, Transmit Security announced a partnership with Azure Active Directory B2C to help prevent fraud across the full customer identity lifecycle.

What recognition did Transmit Security receive in November 2022?

In November 2022, Transmit Security was named an Overall Leader simultaneously in KuppingerCole Leadership Compass Reports for Passwordless Authentication, CIAM Platforms, and Fraud Reduction Intelligence Platforms.

What is Transmit Security's stance on passwords?

In February 2021, Transmit Security signaled the end of the password era by introducing an authentication service that enables organizations to delete all customer passwords from their database.