By eliminating passwords, businesses can immediately reduce churn and cart abandonment and provide superior security for personal data,” said Transmit Security CEO and co-founder Mickey Boodaei. “Passwordless authentication is so much more than ensuring customers can easily and seamlessly access their information, their accounts and make purchases – it’s about revolutionising the way companies interact with their customers. Using biometric authentication, Transmit Security offers a natively passwordless identity and risk management solution. Transforming public sector buildings with innovative UC solutions.Healthcare industry in early stages of multicloud adoption.‘The UK market is our #1 priority in EMEA’.UK’s most important Digital Identity conference opens for business on Friday.It also claims more than 80 percent of all data breaches and are the result of the majority of all account takeovers. ![]() Additionally 87.5 percent have found themselves locked out of an online account after too many failed login attempts and 92 percent will leave a website instead of recovering or resetting their login credentials. The company’s own research shows that 55 percent of consumers have stopped using a website because the login process was too complex. ![]() It says its mission is to “rid the world of passwords using passwordless authentication.” 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 organisation. The funding round was led by Insight Partners and General Atlantic, with additional investment from Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures. Until now, the company has been bootstrapped, funded by the founders’ own money. Kaddaras will be based in Boston, Transmit Security’s North America headquarters.The funding bringing the company’s pre-money valuation to $2.2 billion. “I am thrilled to join a groundbreaking team at this exciting moment in their business and eager to deliver the future of the ‘identity experience’ to the global market.” “Transmit Security’s customer authentication service is built on first-of-its-kind technology that not only helps customers reduce their security risk by eliminating high-risk, inefficient passwords but also empowers them to create exceptional customer experiences,” said Chris Kaddaras, Chief Revenue Officer, Transmit Security. Prior to Nutanix, Kaddaras held a variety of sales leadership roles spanning a 15-year tenure with EMC. He joined the company in 2016, and during his tenure, led its growth from a $500M to a $1.5B company. Kaddaras most recently served as the Chief Revenue Officer for Nutanix where he played an integral role in shaping the company’s go-to-market strategy in its earliest stages. With 8 patents (2 granted, 6 provisional) and a growing roster of global enterprise customers, Transmit Security delivers seamless and secure identity management experiences across an organization’s entire customer journey. The company aims to lead enterprises into a “passwordless” future, empowering them with device-agnostic authentication developed by the world’s leading engineering talent. Transmit Security is building a new category in security. ![]() We couldn’t be more excited for Chris to join us.” “In Chris, we found a sales leader who can see the big picture and design a strategy that helps us identify and solve huge, seemingly intractable security problems for some of the largest institutions in the world. ![]() Chris has a proven track record leading world-class sales organizations and building scalable infrastructure that drives substantial revenue growth,” said Rakesh Loonkar, President and Co-Founder, Transmit Security. “As we look toward 2022, Transmit Security is positioned for massive growth across the globe. Bolstered by a recent $543M Series A round of funding, and rapid growth among large enterprise customers, including the world’s leading financial institutions and retailers, Transmit Security has begun to capture a massive global market opportunity solving this pervasive security problem. The rapid shift to remote work spurred by the COVID-19 pandemic, combined with the increasing frequency and sophistication of cybersecurity attacks, has ushered in the need for an entirely new approach to identity management that goes beyond antiquated and inefficient passwords. Kaddaras will oversee all areas of sales, support and success, unifying the company’s ability to create, onboard and delight our customers. Transmit Security announced it has named Chris Kaddaras as its new Chief Revenue Officer.
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