Transmit Security
Founded Year
2014Stage
Series A | AliveTotal Raised
$583MValuation
$0000Last Raised
$543M | 3 yrs agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+19 points in the past 30 days
About Transmit Security
Transmit Security focuses on providing cloud-native customer identity and access management (CIAM) services. The company offers a range of identity services including identity orchestration, detection and response, identity management, identity verification, authentication services, and data validation. These services are designed to consolidate identity stacks, centralize decision-making, automate customer journeys, monitor and analyze risk signals, and more. It was founded in 2014 and is based in Boston, Massachusetts.
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Transmit Security's Product Videos
ESPs containing Transmit Security
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The identity orchestration market offers comprehensive solutions to manage and streamline identity & access management (IAM) processes across various systems and platforms. Identity orchestration refers to the centralized management and coordination of identities, access controls, and authentication mechanisms within an organization. It enables seamless integration and synchronization of user iden…
Transmit Security named as Challenger among 12 other companies, including Ping Identity, CyberArk, and SailPoint.
Transmit Security's Products & Differentiators
Identity and Data Validation
Verify legitimate customers quickly. A deep yet fast document inspection examines every detail to discern if the ID is authentic and unaltered. Biometric matching compares the selfie and ID photo to determine if they match. Automated background checks rapidly screen AML & PEP watch lists, so you don’t have to. Instantly validate customer identity details. Automate background checks for accurate results in a split second. Transmit Security’s Identity Validation API easily connects to external data sources as well as your own internal data to validate identities and build a comprehensive customer profile. The service simplifies and expedites account registration to comply with global regulations, stop fraud and protect your business.
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Research containing Transmit Security
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Transmit Security in 7 CB Insights research briefs, most recently on Mar 14, 2024.
Mar 14, 2024
The retail banking fraud & compliance market map
Feb 20, 2024
The hardware security market map
Nov 3, 2023
The endpoint security market map
Jul 28, 2023
The cloud security market map
Expert Collections containing Transmit Security
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Transmit Security is included in 4 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
1,244 items
Regtech
1,921 items
Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements. Regulatory technology helps companies and regulators address challenges ranging from compliance (e.g. AML/KYC) automation and improved risk management.
Cybersecurity
9,528 items
These companies protect organizations from digital threats.
Digital ID In Fintech
268 items
For this analysis, we looked at digital ID companies working in or with near-term potential to work in fintech applications. Startups here are enabling fintech companies to verify government documents, authenticate with biometrics, and combat fraudulent logins.
Transmit Security Patents
Transmit Security has filed 4 patents.
The 3 most popular patent topics include:
- computer access control protocols
- computer network security
- password authentication
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
12/8/2020 | 10/3/2023 | Computer access control protocols, Google services, Computer network security, Wireless networking, Password authentication | Grant |
Application Date | 12/8/2020 |
|---|---|
Grant Date | 10/3/2023 |
Title | |
Related Topics | Computer access control protocols, Google services, Computer network security, Wireless networking, Password authentication |
Status | Grant |
Latest Transmit Security News
Aug 13, 2024
Today With Australia's superannuation assets reaching AUD $3.3 trillion, they have become a prime target for cybercriminals. Recent breaches and sophisticated scams, such as attempts to defraud AustralianSuper members and the hacking of Super SA, underscore a pressing need for stronger protective measures. In response, Transmit Security and Wrkr have announced a strategic partnership aimed at bolstering the security of these vital funds against mounting cyber threats. The collaboration focuses on fortifying the security and integrity of superannuation funds, which are increasingly targeted as significant investments in Australia. The Australian Prudential Regulation Authority (APRA) reported that the total assets in the superannuation system reached AUD $3.3 trillion by the end of 2022, highlighting the critical role these funds play in the financial futures of Australians. However, as these assets grow, so does their allure to cybercriminals. In February 2024, scammers targeted AustralianSuper members in attempts to funnel funds into high-risk investments, and a 2023 hack of Super SA impacted thousands of members, showcasing the funds' growing vulnerability. Trent Lund, CEO of Wrkr, stressed the importance of the partnership, stating, "Our mission at Wrkr is to ensure that every contribution to our members' super funds is secure and reaches its rightful destination. The increasing sophistication of fraudsters necessitates a robust and proactive defence strategy. After reviewing numerous cybersecurity options, we found Transmit Security to be the most aggressive and effective in preemptively countering fraud. Their expertise and innovative solutions make them the ideal partner in this ongoing battle against cyber threats." Transmit Security offers advanced fraud prevention tools, robust customer identity management, and seamless integration capabilities, aligning well with Wrkr's commitment to secure superannuation transactions. Richard Metcalfe, RVP, Asia Pacific & Japan at Transmit Security, commented, "Partnering with Wrkr is a significant step towards fortifying Australia's superannuation funds against escalating cyber threats. Our technology is designed to anticipate and neutralise fraud attempts before they impact the end users. By integrating our solutions with Wrkr's innovative digital platform, we are providing super funds with the highest level of security and trust, ensuring that members' future wealth is protected." This partnership arises amid a backdrop of increasing fraud and cyberattacks on financial institutions, including superannuation funds. The National Scam Report disclosed that Australians lost AUD $2.74 billion to scams, a slight decrease from AUD $3.1 billion the previous year. The number of reported scams surged by 18.5%, with an estimated 30% of scams going unreported. More sophisticated scams, particularly those targeting superannuation funds, are expected to increase these statistics. Wrkr's digital platform facilitates efficient and secure superannuation transactions, and with Transmit Security's advanced defences, the partnership aims to set a new benchmark in protecting super funds. This initiative ensures that superannuation funds can transition from legacy systems to a more secure, agile, and resilient approach to member security. Follow us on:
Transmit Security Frequently Asked Questions (FAQ)
When was Transmit Security founded?
Transmit Security was founded in 2014.
Where is Transmit Security's headquarters?
Transmit Security's headquarters is located at 500 Boylston Street, Boston.
What is Transmit Security's latest funding round?
Transmit Security's latest funding round is Series A.
How much did Transmit Security raise?
Transmit Security raised a total of $583M.
Who are the investors of Transmit Security?
Investors of Transmit Security include CyberStarts, SYN Ventures, Insight Partners, General Atlantic, Geodesic Capital and 10 more.
Who are Transmit Security's competitors?
Competitors of Transmit Security include Keyless, HYPR, ReachFive, Spec, ONLAYER and 7 more.
What products does Transmit Security offer?
Transmit Security's products include Identity and Data Validation and 4 more.
Who are Transmit Security's customers?
Customers of Transmit Security include Citi, UBS, HSBC, Santander and SunLife Financial.
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Compare Transmit Security to Competitors
HYPR specializes in identity security and passwordless authentication solutions within the cybersecurity industry. The company offers an identity assurance platform that includes passwordless multi-factor authentication, risk policy orchestration, and identity verification services. HYPR's solutions cater to various sectors, including financial services, critical infrastructure, and retail, aiming to enhance security and user experience. It was founded in 2014 and is based in New York, New York.
Socure focuses on digital identity verification and fraud prediction, operating within the technology and financial services sectors. The company offers a platform that uses artificial intelligence (AI) and machine learning (ML) to verify identities in real-time, analyzing various elements such as email, phone, address, and device risk. This service is primarily used by industries such as financial services, government, gaming, healthcare, telecom, and e-commerce. It was founded in 2012 and is based in Incline Village, Nevada.
Tactical Information Systems provides complete identity solutions that meet the needs of governments, law enforcement, border security and identity communities. BeehiveID is face recognition software for identity authentication & verification.
BIOWATCH develops a biometric recognition system integrated into any wearable device for secure authentication, mobile payment protection, and smart device interaction. It enables users to unlock a car, access an office, log in to the internet, purchase goods and services, and sign contracts and digital documents. The company was founded in 2015 and is based in Lausanne, Switzerland.
Smile ID specializes in digital identity verification and Know-your-customer (KYC) compliance solutions within the financial technology sector. The company offers services such as user authentication, fraud detection, and anti-money laundering checks, designed to facilitate secure and compliant business operations. Smile ID primarily caters to businesses looking for robust identity verification and compliance tools in the digital space. Smile ID was formerly known as Smile Identity. It was founded in 2017 and is based in Lagos, Nigeria.
BioCatch is a company specializing in behavioral biometrics for fraud prevention and digital identity verification within the financial services sector. The company offers solutions that analyze online user behavior to detect and prevent fraud, money laundering, and various cyber threats. It was founded in 2011 and is based in Tel Aviv, Israel.
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