“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. Scottish Improvement Service to provide Scottish citizens with Digital ID.‘We’re going to help UK suppliers enhance and grow their public sector business,’ promises Bulldog & Maple.‘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.

The funding bringing the company’s pre-money valuation to $2.2 billion.

Transmit security funding