Transmit Security Appoints New CEO, Launches AI Risk Solution

Cybersecurity firm Transmit Security has announced the appointment of Matt Thompson as its new CEO, succeeding co-founder Miki Boodai, who will transition to the role of Chairman. Thompson brings extensive experience, having previously served as President of Score, co-founded ID.me, and served as an officer in the U.S. Army's special operations. Concurrently, Transmit Security unveiled a new solution called Agentic Trust, designed to help financial institutions and retailers manage risks associated with AI agents acting on behalf of customers. These AI agents can perform financial transactions like opening accounts and making purchases, posing a challenge to traditional security systems as they operate with valid user credentials.

Agentic Trust enables organizations to monitor AI agent activity across digital channels, identify the agent type and intended action, and manage its permissions in a controlled, time-limited manner. Boodai expressed confidence in Thompson's leadership, stating that Thompson's appointment represents an opportunity to propel the company into its next growth phase. He emphasized the growing need for organizations to address AI agent activity, moving beyond simple approval or blocking.

Transmit Security, founded in 2014 by Miki Boodai and Rakesh Loonkar, specializes in identity and access management. The company raised $543 million in 2021 at a valuation of approximately $2.3 billion. It has developed passwordless identity verification platforms for major financial and retail clients and has received industry innovation awards.