Security News > 2021 > June > Passwordless Authentication Firm Transmit Security Raises $543 Million
2021-06-22 12:26
Identity solutions provider Transmit Security on Tuesday announced raising $543 million in a Series A funding round.
Transmit noted that this is the largest Series A funding round ever announced by a cybersecurity company and one of the highest valuations for a bootstrapped firm.
Transmit Security has developed a natively passwordless identity and risk management solution.
The company's BindID identity authentication network enables passwordless user authentication based on device biometrics.
Transmit also offers WorkID, a passwordless workforce identity and access management solution.
Transmit claims its solutions are used by many organizations, including some of the largest financial institutions and merchants in the United States.