City Ventures and Goldman Sachs invest in Israeli Transmit Security

Posted on Sep 14, 2021 by Ifi Reporter

Transmit Security reveals two other significant investors in the same round: City Ventures, the investment arm of Citi and Goldman Sachs, who also took part in the same investment, which was valued at $ 2.2 billion. The companies have not revealed the size of the investment of the two entities but it is estimated that it stands at tens of millions of dollars.
Until the same recruitment that was mostly in Secondary, the company founded by two cyber entrepreneurs Mickey Bodai and Rakesh Lonkar was self-financed by the two who initially gave the company an owner loan that was repaid shortly after its inception.
"The Transmit Security team is solving a password protection problem that has plagued companies for years, and so far there has been no solution that can integrate seamlessly and securely into existing platforms," ​​said Arwind Purosham, CEO of Citi Ventures. The leadership team is asked to guide large organizations into a world where passwords are not blocked. "
"We are pleased to have world-renowned investment partners such as City Ventures and Goldman Sachs who believe in our mission to clear the world of passwords. ", Said CEO and co-founder Mickey Bodai.
The company currently employs over 200 people and has a sales rate of over $ 100 million.
Transmit Security was founded in 2014 by Mickey Bodai, CEO and co-founder of Imperva, and Rakesh Lonkar, the company's president. IBM in the security world.
Transmit Security's technology is already used by large organizations around the world, including six of the seven largest financial institutions in the United States, including UBS and Santander; The two largest stores in the United States and another line of financial entities, 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.
Organizations lose millions of dollars every year and put themselves and their customers at high risk because of password-based authentication methods - authentication that is inherently unsafe, makes the user experience flawed and cumbersome, Transmit Security was founded in 2014 by Mickey Bodai, CEO of Imperva and Rakash Loncar, the company's president, co-founded Trusteer in 2006, a fraud protection platform that was sold to IBM within seven years of its inception as part of IBM's largest acquisition in the security world.
Transmit Security's technology is already used by large organizations around the world, including six of the seven largest financial institutions in the United States, including UBS and Santander; The two largest stores in the United States and another line of financial entities, 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.


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