![]() ![]() Though biometric authentication is a helpful technology, many apps that attempt to harness it still have a password underneath the biometrics. Two-factor authentication remains vulnerable to bad actors. The layers added to passwords to make them more secure are insufficient. Despite the good intention behind them to foster security, they remain cumbersome and ineffective. The Problems With Passwords: Passwords have become ubiquitous.Mickey Boodaei, the CEO of Transmit Security, also agrees that passwords are terrible, but he has a solution to get rid of them. Four, practically everything requires a password now, so there are just too many. Two, who can remember all their passwords? Three, it’s easy for bad actors to steal them. Here are the top hits of their most obnoxious qualities: One, they cause friction to get things done. Okay, maybe that’s a bit hyperbolic, but they are pretty annoying. The Fleet – Learn from the top drivers, managers, and executives innovating in fleet management today.Hidden in Plain Sight – Hear from the executives and innovators working to solve humanity’s most complex problems.The Journey – It only takes one idea or one story to change the whole trajectory of your life, career, and work.IT Visionaries – Your #1 source for actionable insights, lessons learned, and exclusive interviews with CIOs, CTOs, and CISOs.Business X factors – Learn from the executives and leaders behind some of the world’s most innovative and exciting companies.Mission Daily – Learn at least one new thing each day that will help you level up your health, wealth, wisdom, and career.The Story – From the famous to the infamous, these are the backstories of people who changed the world.The Data Chief – Meet the world’s top data and analytics leaders transforming how we do business.Up Next In Commerce – Join host Stephanie Postles as she sits down with eCommerce leaders on the front lines of digital innovation.Marketing Trends – Interviews with trailblazing marketers, including CMOs, CEOs, VPs, and industry leaders. ![]() These include HoneyBook, Sunbit, Deel, Redis Labs, Orca Security, Wiz, Yotpo, Papaya Global, Earnix and Axonius Inc.Channels & Communities To Level Up Your Health, Wealth and Wisdom. Overall, at least 17 Israel-based or Israeli-origin tech companies have pocketed new funding cheques and joined the unicorn club since the beginning of 2021, according to data compiled by The Capital Quest. The others are music app JoyTunes, industrial cybersecurity company Claroty, logistics platform Bringg and transcription firm Verbit. Transmit Security is the fifth Israeli-origin company to join the unicorn club of tech startups with a valuation of at least $1 billion. They sold Trusteer to IBM, reportedly for as much as $1 billion, in 2013. In 2006, Boodaei and Loonkar started Trusteer, a fraud protection software platform. Previously, Boodaei was the co-founder of Imperva, a cybersecurity platform which went public in 2011. “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,” said Boodaei.īoodaei founded the company along with Rakesh Loonkar in 2014. Transmit Security uses biometric authentication to provide passwordless identity and risk management solution to companies across the world. “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. Transmit Security will use the funding to expand its primary business functions and invest in key global areas with an aim to help the world stop using passwords thanks to biometric authentication, the startup said. ![]() Cyberstarts, Geodesic, SYN Ventures, Vintage and Artisanal Ventures also made investments. The startup said that Insight Partners and General Atlantic led the funding round. This is the largest Series A funding round in cybersecurity history and one of the highest valuations for a bootstrapped company, Transmit Security said in a statement. Transmit Security, an Israel- and US-based cybersecurity startup, said Tuesday it has raised $543 million in Series A funding that takes its pre-money valuation to $2.2 billion.
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