Transmit Security is a company that is split between Tel Aviv, Israel, and Boston, Massachusetts. It specializes in the delivery of risk management, and identity solutions that do not require the use of passwords for its customers and workforce. This is a cybersecurity business that has recently received an infusion of venture capital funding to help in the growth and expansion of the business. This is a company that is on its way up, led by an executive known for launching startups and turning them into unicorn-status enterprises. Here are 20 things you probably didn't know about Transmit Security to bring you up to speed.
1. Transmit Security is an emerging leader in the risk management sector
According to Crunchbase, Transmit Security is the first developer in the cybersecurity industry to use app-less biometric authenticator-based technology to create a low code identity platform for managing risk. It is an innovative authentication and risk management business that enhances security while improving user experiences and satisfying compliance mandates at a lower cost than most other identity solutions.
2. Transmit Security was founded in 2014
This company is still young in its life cycle. Founded in 2014, Transmit Security has been in business for seven years. In that time it has gone from startup status to one of the leaders in its industry. It has achieved a remarkable level of growth in a short time.
3. Transmit Security is a versatile enterprise
Transmit Security is classified under five different industries in Google search engines because of the broad reach and number of solutions that it provides for its customers. It is first and foremost a Cyber Security enterprise, that helps companies protect their data and the information of their staff and customers using digital resources. It is also a Fraud Detection provides that also provides Identity Management and Security. It is also listed under the Information Technology sector.
4. Transmit Security has a seven-member executive leadership team
There are currently seven members in the executive leadership team that is leading Transmit Security forward. Mickey Boodaei is a co-founder and chief executive officer. Rakesh K. Loonkar is the president and co-founder. Dima Polsky is the head of research and development. Brett Eldridge is an advisor to the executive team. Franck Chabert is the vice president of global customer success and services. Craig Currim is the worldwide vice president of customer solutions and field engineering, and Kevin Carr is the senior solution engineer.
5. Transmit Security uses expensive and complex technology
The website for Transmit Security relies on a total of 44 technologies that are actively used to power its website. While there is a complicated array of different technologies in use, the user experience flows smoothly. The 44 technologies are distributed over 20 technology products including jQuery, HTML5, Google Analytics, iPhone Mobile Compatible, Viewport Meta, SPF, and several others.
6. The overhead for Transmit Security's technology is high
It is estimated that the 20 technology product that is required for the Transmit Security website is expensive. The total amount that is allocated for 12 months is $31.9 K. This is a part of doing business, but maintaining the website with its complex technologies is an expensive proposition.
7. Visitor interest is growing in the United States
The statistics maintained for the Transmit Security website show that there is rising interest in the company coming out of the United States and other countries. Over the past 30 days, the average number of monthly visits is 4,544. 65% of the web traffic comes from people living in the United States and there has been a growth rate of 28.8%. 14 percent of the web traffic comes from the United Kingdom. 9 percent of visitors are from Canada and there has been a 14.93 percent growth in web traffic from this country in the past month. 9 percent of the web traffic comes from people in Israel, and 3 percent are from Belgium. The increased traffic to the website indicates that more people are hearing about Transmit Security and the solutions that it offers and at least some of the thousands of monthly visitors are converted to subscribing customers who end up using the products.
8. Transmit Security is a venture capital-funded enterprise
Transmit Security has participated in two venture capital fundraising rounds. The most recent was an event that closed on June 22, 2021. So far, the total amount of funds raised is $538 million. There are currently 9 investors involved in the fundraising activities for the company.
9. Transmit Security is a privately held company
You won't find Transmit Security listed on any of the public stock exchanges, at least not yet anyway. The company is still privately held and it obtains its funding from private venture capital investors. This means that you won't be able to purchase shares in stock because it hasn't filed for an IPO. In our research, we saw no evidence of any plans to take the company public, but it could happen in the future. For now, it remains a privately owned enterprise.
10. The founders of the company paid for its launch and establishment
Transmit Security is a company that was launched by two co-founders, who invested their own money into the business. The first round of venture capital funding didn't take place until January of 2017, raising $40 million, followed by a second round that closed on June 22, 2021. For the first three years that the business was in operation, the costs were covered by Mickey Boodaei and Rakesh Loonkar. Mr. Boodaei sold a business previously for an amount of $1 billion and is a powerful investor in multiple business ventures outside of Transmit Security.
11. Investor confidence is high in Transmit Security
The 9 investors who provided venture capital funding for Transmit Security have full confidence in the company's potential for generating a solid return on the investment. The total figure of $539 million confirms that there is a high level of confidence. Transmit Security has attracted the attention of large VC funders including Insight Partners, Artisanal Ventures, SYN Ventures, Cyberstarts, Geodesic Capital, General Atlantic, Vintage Investment Partners, and the two co-founders Rakesh K. Loonkar and Mickey Boodaei. The funding was not imperative for the continued operations of the company. The infusion of funds will allow the business to grow its infrastructure and expand at a faster pace.
12. Transmit Security has a small workforce
According to LinkedIn, the number of workers employed by Transmit Security is currently just 230. The massive cybersecurity company relies on a strong team of engineers and developers to continue to conduct research and development on new technology products as well as maintaining the current product quality and customer satisfaction aspects of the business.
13. Transmit Security is expanding its workforce
The most recent infusion of venture capital funding provides a resource for Transmit Security to begin a rapid expansion of its operation. When looking into the number of jobs that are currently open in the firm we were pleased to discover that Transmit Security has posted openings for 54 new positions within its organization. This suggests that the operation is preparing for growth and expansion of its current workforce of nearly 25 percent. This is a significant boost that will enable the company to ramp up operations and expand throughout more countries of the world with a greater presence. It's exciting for investors to see this kind of growth taking place because it will certainly enhance the scope of the company's outreach.
14. Transmit Security is hiring in Boston and Tel Aviv
We were interested in knowing more about Transmit Security's plans for expansion and where the growth is set to take place. We saw that there is a fairly even distribution of the available job openings at the company's headquarters in Boston, Massachusetts, but there are just as many openings in Tel Aviv, Israel. This tells us that Transmit Security is going to have a larger presence in the country of Israel. Its international reach is likely to result in higher sales and the need for more advanced technology products as the new boom in tech startups and other businesses in Israel has created a larger market for Transmit Security to tap into. The potential for big growth in Isreal exists and TA is going after the business there.
15. Transmit Security also has a presence in Europe and Asia
We also saw a job position opening for a European country. Transmit Security is hiring a customer service manager from Amsterdam, The Netherlands. There is also a listing for a regional sales director for Southeast Asia, with a home base in Singapore. They're also advertising for the same position in Dubai. Jobs are posted for London, England, and staff in Toronto, Ontario, Canada. There are also jobs open throughout various parts of the United States including in Dallas, Texas, and New York, New York. We're seeing exciting activity coming from Transmit Security.
16. Transmit Security is an Israeli company
According to Venture Beat, Transmit Security has a headquarters in Boston, Massachusetts, but the main office is located in Tel Aviv, Israel. It's a global company that is currently expanding its reach throughout the world. The founders of Transmit Security are entrepreneurs and businessmen who are natives of the country of Israel, where they initially launched the operation when it was first established as a company.
17. Transmit Security seeks to kill the password
One of the goals that Transmit Security has set is to eliminate the need for passwords as security measures. The problem with passwords is that many users forget what their passwords are and this can lock them out of systems, in some cases permanently, until an administrator is located to reset the system and insert a new password. It's been an ongoing problem in identification processes. One of the solutions that Transmit Security provides is an alternative for password use. There are other ways of verifying identification that is just as secure but does not rely on the use of passwords.
18. Transmit Security has attracted big business in its clientele
The security and identification solutions offered by Transmit Security are so attractive that they have secured the business of some of the largest companies in the world. Its roster of customers is impressive as it serves Lowes, Santander, UBS, HSBC, and many others.
19. Transmit Security is a disruptor in the cybersecurity industry
Transmit Security is a company that has the potential for disrupting the cybersecurity and identification niche of the technology industry. The new technologies produced by its research and development department are somewhat revolutionary. It could change the way that companies who use online and digital services do business. Getting rid of passwords is just one of the ways that it is changing the old systems and updating them to a more modern platform. Now that some of the larger companies are signing on to use these services, we believe we're turning a corner in the method that is used to gain access to customer accounts. The solutions that are provided by Transmit Security could change the way that we interact in online settings, and do so for the better.
20. Transmit Security is a company to keep your eye on
Transmit Security is currently on the move. It has been a successful business since its inception, but we're seeing increased activity and expansion currently. The business is not even a decade old and there is still plenty of room for it to grow, expand, and make positive contributions to the business world. So far, the owners have decided to maintain control of the operation so it's not likely that any public shares will be offered any time soon, but it is still worth keeping your eyes on this company if it does go public at some time.
Written by Dana Hanson
Read more posts by Dana Hanson