#TRANSMIT SECURITY FUNDING SERIES#

Even worse, 92% of consumers will completely abandon a website without completing a purchase instead of going through the steps to recover or reset login credentials. Research shows 55% of consumers stop using a website because the login process is too complex, while 87.5% find themselves locked out of an online account after too many failed login attempts. Organizations lose millions of dollars annually and place themselves and their customers at high risk due to password-based authentication that is inherently unsafe, delivers poor user experience, leaves customers unsatisfied and places brands at risk of jeopardizing their reputations. Transmit Security will use the funding to increase the company’s reach and expand its primary business functions, investing in key global areas in order to grow the organization, ultimately enabling the company to accelerate its mission to help the world go passwordless. The funding round was led by Insight Partners and General Atlantic, with additional investment from Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures.

#TRANSMIT SECURITY FUNDING SERIES#

Transmit Security, the Identity Experience™ company, today announced it has raised $543 million in Series A funding, bringing the company’s pre-money valuation to $2.2 billion, and marking the largest Series A funding round in cybersecurity history and one of the highest valuations for a bootstrapped company. Led by Insight Partners and General Atlantic, Transmit Security’s pre-money valuation jumps to $2.2 billion with the largest Series A funding round in cybersecurity history

Transmit security funding