![]() ![]() “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. ”And this is a really big market with really big companies.Transmit Security announced it has named Chris Kaddaras as its new Chief Revenue Officer. “Building a company from zero means you're always the underdog,” Loonkar says. It considers itself as an underdog, says Loonkar, president of the cybersecurity firm. Transmit Security is competing in the identity authentication segment with companies such as Google, Amazon, Microsoft and Okta. “We've been very close with the VC community from our past… Both Rakesh and I are also private investors, we co-invest with many of the VCs and LPs in the community,” Boodaei says. ![]() The founders, as veterans of the cybersecurity industry, credit the smooth progress of the funding round to their already established relationships in the VC community. Loonkar says that the deal came together within a matter of months. The series A funding round also included Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures. The market for its identity authentication products and services is almost 2 million customers, he says. “We need to move fast and that's part of the reason we had this round.”Īs Transmit Security looks to grow, the funding will help the company accelerate development, raise its profile and alert the job market that it will be hiring more employees, Loonkar says. “Gartner predicts … that over the next three years, most organizations are going to move toward a password-less world,” Boodaei says. From retailers to healthcare organizations to government entities, a wide gamut of companies want to get rid of passwords, Loonkar says. Transmit Security, headquartered in Boston, Massachusetts, and Tel Aviv, Israel, has a prominent presence in North America with organizations such as Citibank, UBS and MassMutual as its customers.īacked by more financial resources, the company plans to offer its services to entities of smaller scale and size as well. The identity and access management company plans to use the more-than-half a billion dollars to expand globally and across its verticals, Boodaei says. “With biometrics, the biometric is held in the device itself and never goes to the website that tries to authenticate you, so it's decentralized and much more secure,” he says. ![]()
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