Transmit Security Ltd., the newest entrant in the race to rid the world of passwords, early today said it has raised a record-setting $543 million funding round that values the company at $2.2 billion and marks what it says is the largest Series A funding of any cybersecurity company in history. The company which was founded by serial security entrepreneurs Mickey Boodaei (pictured, left) and Rakesh Loonkar (right), says it has developed a passwordless authentication technique that uses biometric authentication to verify identity across multiple devices.

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