Israeli Transmit Security raised $ 543 million at a valuation of $ 2.2 billion

Transmit Security, which offers solutions for identifying users without a password and registration, has recruited the largest A-round ever for a cyber company in Israel. The company, ranked second this year in Calcalist's 50 startups for 2021, raised $ 543 million at a valuation of $ 2.2 billion. Calcalist has learned that most of the recruitment is in the form of a second-rate recruitment and will go to the two founders of the company, Miki Bodai and Rakesh Lonkar, and to its 200 employees.
To date, the company has been run with the help of self-financing by Bodai and Lonkar, who initially gave the company an owner loan that was repaid shortly after its establishment.
The company is already profitable today, with sales of about $ 100 million. Must have explained why he chose to recruit, even though the company actually does not need it. "One of the things we have a hard time with is explaining to everyone what the value and potential of the company is. We were a company that didn't raise money, and employees, analysts, customers and the press have nothing to compare to - and that's a problem.
"We have come to understand that the co - operation of the funds is meant to show that the venture capital world believes in our market, believes in society and the people and in our potential to grow quickly. It is a kind of measurable approval for everyone."
Certainly Lancar are among the founders of the companies Trustee and Impreva, and are also among the best investors in the cyber industry as both are invested in both a number of local cyber companies and funds.
Insight Partner and General Atlantic led the fundraising, which was also attended by Cyberstarts, Geodesic, SYN Ventures, Vintage, Artisanal Ventures. Most funds acquire holdings of employees and founders and a negligible portion of tens of millions of dollars will flow into the company’s coffers.
Transmit Security was founded in 2014 by Bodai, who serves as the company's CEO, and Lonkar, the company's president. IBM in the security world.
When Calcalist chose Transmit for the list of promising companies, he must have said that "the money is being pushed towards you and you need a lot of willpower not to take it. Doing". Today Transmit proved that if she enlists - she does it big time.
The company's technology is already used by large organizations around the world, including six of the seven largest financial institutions in the United States, the two largest stores in the United States, and brands and digital service providers operating in Europe, Asia and Latin America.
The company's headquarters are located in Tel Aviv, where most of the research and development activities take place, as well as some of the marketing and sales activities. The company has additional offices in the United States, England, Mexico, Brazil, Australia and Germany.
Against the background of the recruitment, Transmit plans to continue to accelerate the company's growth, expand its business operations and expand into new markets. At the same time, the company, which currently employs about 200 people, 110 of them in Israel, plans to expand its recruitment efforts and double its number by the end of 2021.
Another reason for recruitment is the expansion of the company. "We are reaching dimensions where the help of large funds that know how to manage with companies of our size is significant for both of us," Boudai said. “What we have done to date we have done in the past, but if you want a large and significant company you should bring in factors that can make us ten times bigger.
Lonkar's situation is certainly different from most of the entrepreneurs who come to the huge recruitment diluted and with holdings of a few percent in the company. Prior to the raising, they were both major shareholders in the company and the company's employees had a small holding. He must have said that he and Lonkar would not be significantly diluted.
"We want them to understand that we are a leading player in our world. We are turning to a huge market of tens of billions and want to act in a very aggressive way that will allow us to reach higher growth rates than we have today."