“Our customers, whether they are in the retail, banking, financial, telecommunications or automotive sectors, understand that providing an optimized identity experience is a multimillion dollar challenge. 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 revolutionizing the way companies interact with their customers. Transmit Security’s mission is to enable organizations to deliver advanced identity use cases that improve the user experience, enhance security, and satisfy compliance requirements at a fraction of the time and cost of traditional identity solutions. Using biometric authentication, Transmit Security provides the first natively passwordless identity and risk management solution to the largest brands in the world. Weak passwords account for more than 80% of all data breaches and are the result of the majority of all account takeovers.
#TRANSMIT SYMBOL PASSWORD#
In addition to delivering poor user experiences and costing brands millions of dollars in revenue, password breaches pose a major threat to data security. Outdated and ineffective password-based systems are costing businesses revenue, and Forrester reports the average help desk labor cost to reset a single password is more than $70. 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 SYMBOL SERIES#
When this rapidly changing energy is directed through a conductor, in this case an antenna, electromagnetic or radio waves are radiated outwards to be received by another antenna that is connected to a receiver that reverses the process to come up with the actual message or data.TEL AVIV, Israel & BOSTON-( BUSINESS WIRE)- 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. In order to do this, a transmitter takes energy from a power source and transforms this into a radio frequency alternating current that changes direction millions to billions of times per second depending on the band that the transmitter needs to send in. Transmitters are devices that are used to send out data as radio waves in a specific band of the electromagnetic spectrum in order to fulfill a specific communication need, be it for voice or for general data.
0 kommentar(er)
