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Rakesh loonkar transmit security8/4/2023 ![]() ![]() ![]() ![]() "Companies have no idea how many secrets they hold in the cloud, where they are, who is using them, and most importantly, how to protect them.”Įntro was designed specifically for CISOs and security teams, providing them with full oversight and the ability to govern any secret from a single pane of glass, integrating into all places in which secrets can be found, including BYOV (bring your own vault). “We spoke with more than a hundred CISOs and heard the same complaints over and over," said Itzik Alvas, CEO and co-founder. In addition, Entro helps organizations meet regulations like SOC 2 that require secrets protection such as rotation, which the platform easily enables. With the secured seed funding, Entro is well-positioned to further develop its secret security platform, expand its team, and enhance customer acquisition efforts.Įntro is the first and only holistic secrets security platform that detects, safeguards, and provides context for secrets stored across vaults, source code, collaboration tools, cloud environments, and SaaS platforms. Notable angel investors including Rakesh Loonkar (founder of Trusteer and Transmit Security), Mickey Boodaei (founder of Imperva, Trusteer, and Transmit Security), and Amichai Shulman (founder of Imperva and AirEye) also participated. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business.Entro, a Tel Aviv, Israel-based cybersecurity startup offering secret security and management, announced that it raised $6 million in seed funding led by StageOne Ventures and Hyperwise Ventures. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. The company says it will use the funding to increase its global reach and to “expand its primary business functions”.įaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. The funding round’s close comes after Transmit Security’s appointments of new executives including a Chief Information Security Officers, a VP of Product, and a Chief Marketing Officer, and its admission to the board of the FIDO Alliance. The Series A funding round was led by Insight Partners and General Atlantic, and featured contributions from Cyberstarts, SYN Ventures, Geodesic, Vintage, and Artisanal Ventures. “The fact that we have raised a record amount of funding is a clear indication that the world is ready to eliminate passwords and embrace biometric authentication technology so that they can deliver enhanced user experiences combined with significantly heightened levels of security,” added President and Co-founder Rakesh Loonkar. The company’s growth reflects the ascent of broader interest in biometric authentication technology, with Transmit Security CEO and Co-founder Mickey Boodaei asserting in a statement that passwordless authentication is “revolutionizing the way companies interact with their customers.” And the company now has offices in Berlin, Boston, Hong Kong, London, Madrid, Mexico City, Sao Paolo, and Tokyo, in addition to its headquarters in Israel. Today, Transmit Security has a robust authentication portfolio, including its BindID passwordless customer authentication solution announced in February of this year, which is designed to leverage the sensors available in contemporary smartphones for fingerprint and facial recognition to enable biometric authentication for end users. The company was founded in 2014, and started gaining traction in the financial services sector within a few years. Headquartered in Tel Aviv, Transmit Security has been building its platform for some years. The funding brings the company’s “pre-money” valuation to $2.2 billion. Identity security specialist Transmit Security has raised $543 million in what it is calling the largest Series A funding round in cybersecurity history. ![]()
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