Biometric Authenticator Transmit Security Raises $40M

January 12, 2017 |Israeli startup Transmit Security, which is developing programmable biometric authentication has come out of stealth and announced a $40 million self-funded round of financing. Based in Boston and Tel Aviv, the company has unveiled a platform that will disrupt the $10 billion authentication software market. The technology enables organizations to displace passwords and implement any form of identity verification, on any device, across all their customer/partner facing channels. The company is being financed by its founders, CEO Mickey Boodaei and president Rakesh K. Loonkar, who previously created online banking security pioneer Trusteer, which was acquired by IBM in 2013. Boodaei also cofounded Imperva, a billion dollar provider of cyber and data security products. The company’s research and development team is made up of former members of Unit 8200, the elite Israeli Intelligence Corps.