January 12, 2017 –

Israeli biometric authentication startup Transmit Security has raised $40 million in a self-funded round of financing, according to a report by Globes.

Transmit Security, which is based in Boston and Tel Aviv, has unveiled a platform that it says will disrupt the authentication software market by enabling organizations to implement any identity verification method, on any device, across all their customer/partner facing channels.

The company’s founders, CEO Mickey Boodaei and president Rakesh K. Loonkar, previously established online banking security pioneer Trusteer, which IBM acquired in 2013. In addition, Boodaei cofounded cyber and data security products developer Imperva.

Transmit’s research and development team is comprised of former members of Unit 8200, the elite Israeli Intelligence Corps.

The Transmit Security Platform (SP) uses mobile devices as the primary delivery mechanism to add any form of primary or secondary identity verification to any application.

Once deployed, an enterprise can make changes to any of the authentication methods and identity risk flows without any code updates to the applications themselves.

 

Read more: http://www.globes.co.il/en/article-biometric-authentication-co-transmit-security-raises-40m-1001171645

http://www.biometricupdate.com/201701/israeli-biometric-startup-transmit-security-raises-40m-in-self-financing

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