Transmit Security

Transmit Security is a cybersecurity and identity and access management company founded in 2014 by Mickey Boodaei and Rakesh Loonkar. It sells a customer identity and access management (CIAM) platform covering authentication, identity orchestration, user management and workforce identity, alongside fraud prevention and identity verification. Its flagship offering is marketed as Mosaic, described by the company as an enterprise platform fusing identity management, fraud prevention and identity verification with predictive AI. Earlier and additional named products include BindID (biometric, passwordless authentication), FlexID and WorkID.

The company positions its passwordless, biometric-based authentication as a way to remove reliance on passwords, and states its authenticator handled more than 9,000 authentication requests per second as of 2021. More recently it has introduced Agent Intelligence, a product line intended to detect autonomous AI agents interacting with customer-facing applications, classify them as benign, suspicious or malicious, and apply runtime policies to allow, limit or block their activity. Platform capabilities marketed across plans include a no-code orchestration and policy engine, an AI assistant called Spark, prebuilt integrations and APIs, automated workflows, lifecycle management for identity journeys, role-based access control, audit and compliance reporting, and a 99.99% uptime SLA.

Transmit Security is a FIDO Alliance board member, having joined the board in February 2021, and has been cited in analyst evaluations including the 2025 Gartner Magic Quadrant for Access Management, the Forrester Wave for Customer Identity and Access Management, and KuppingerCole Leadership Compass reports for fraud reduction intelligence platforms.

Founding story

Founded in 2014 by Mickey Boodaei and Rakesh Loonkar with the goal of making customer identity and access management simple and secure and of eliminating passwords. The pair had previously co-founded Trusteer in 2006, which IBM acquired in 2013 for $1 billion. The company began by providing identity orchestration for complex CIAM use cases at large, security-focused enterprises and later built a modular CIAM platform aimed at businesses of varying size.

Business model

B2B enterprise software sold as a cloud platform, with modular services (orchestration, authentication, user management, fraud detection and response, identity verification) that can be purchased individually or as the full Mosaic platform.

Subscription pricing based on monthly active users (MAUs) or event volume. Published indicative list pricing starts at $200,000/year for the full Mosaic platform at 100K MAUs, $100,000/year for Mosaic for Identity at 100K MAUs, $100,000/year for identity fraud and threat detection at 10M logins, and $50,000/year for identity verification at 100K ID checks, with final quotes tailored to use case, volume and deployment architecture.

Traction

Customers cited include UBS, HSBC, Bank Leumi, Citibank, Aflac, Lowe's, Santander, NN and HYPE. In 2021 the company reported its authenticator handled more than 9,000 authentication requests per second, could reduce account resets by 96%, and cut customer authentication time from about one minute to two seconds. Company-published outcome figures include a 98% reduction in new account opening fraud, 1,300% return on investment, 610% improvement in fraud detection, a 98% true positive rate and 72% less custom code.

Latest developments

The company is marketing Agent Intelligence, a layer for detecting, analyzing and governing autonomous AI agent traffic on customer-facing applications, and promoting the Mosaic identity-fraud fusion platform. It cites recognition in the 2025 Gartner Magic Quadrant for Access Management and KuppingerCole's 2025 Leadership Compass for fraud reduction intelligence platforms in e-commerce, and is appearing at Identiverse and Gartner IAM events.