With Business Booming, Transmit Security Rebrands IAM Offerings

Transmit Security has rebranded its portfolio, consolidating its BindID, RiskID, FlexID, VerifyID, and UserID solutions into a single package, the Transmit Security CIAM Platform. The move comes after Transmit Security launched BindID, which leverages IoT devices’ face and fingerprint recognition capabilities, in February.

“Since we launched the industry’s first omnichannel identity orchestration product in 2016, we have consistently enhanced our capabilities and grown our customer base to support more than $2 trillion in annual commerce,” asserted Transmit Security President and co-founder Rakesh Loonkar. “Our experience in securing and supporting mission-critical, customer-facing services for many of the most demanding enterprises guided us to delivering the next generation of CIAM software.”

The rebrand was unveiled alongside some impressive growth metrics. Revenues for the first half of 2022 were up 40 percent year-over-year, and Annual Recurring Revenue surpassed $100 million. The startup’s client base grew by 51 percent over the same period, and now includes Goldman Sachs, America’s Car-Mart, and BRED Banque Populaire, in addition to longstanding clients like Citigroup, UBS, HSBC, Santander, and Lowe’s.

To keep pace with its growth trends, Transmit Security has been hiring. The company says its workforce grew by 41 percent, year-over-year, in H1.

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August 18, 2022 – by Alex Perala