Total amount raised
$91.3 Million
Latest funding date
12/1/2022
Location
HYPR has successfully raised funding over seven rounds, with the latest being a Venture - Series Unknown round. The company is backed by 13 investors, including Silver Lake Waterman and Top Tier Capital Partners.
Keep reading to explore the intricacies of HYPR's fundraising journey and the investors backing this innovative platform.
What Is HYPR?
HYPR is a private company based in New York, New York, specializing in identity assurance and passwordless authentication solutions. The company operates in industries such as Cyber Security, Identity Management, Mobile, and Security.
With an employee count ranging from 101 to 250, HYPR focuses on eliminating passwords to enhance security and productivity. Their platform includes products like HYPR Authenticate, HYPR Adapt, and HYPR Affirm, catering to various industries and audiences.
How Much Funding Has HYPR Raised?
- Angel Round
- Amount Raised: USD 800,000
- Date: June 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of HYPR's passwordless authentication technology.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: October 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and market their passwordless authentication solutions.
- Series A
- Amount Raised: USD 10,000,000
- Date: October 2017
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the customer base.
- Series B
- Amount Raised: USD 18,300,000
- Date: October 2019
- Lead Investors: Comcast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and integrate with more enterprise solutions.
- Series C
- Amount Raised: USD 35,000,000
- Date: April 2021
- Lead Investors: Advent International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series C
- Amount Raised: USD 25,000,000
- Date: November 2022
- Lead Investors: Advent International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance technological capabilities.
- Series Unknown
- Amount Raised: USD 30,000,000
- Date: June 2024
- Lead Investors: Silver Lake Waterman
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To combat generative AI-driven credential-based attacks and support the adoption of passwordless authentication solutions.
Total Amount Raised: USD 122,100,000. Current Valuation: Not publicly disclosed.
Key Investors
- Silver Lake Waterman
- Details: Silver Lake Waterman is part of Silver Lake, a global leader in technology investing with approximately $103 billion in combined assets under management and committed capital. They focus on providing flexible expansion capital to later-stage growth companies in the technology and technology-enabled industries.
- Investment Focus Areas: Technology, Technology-enabled industries, Later-stage growth companies
- Notable Investments: Not publicly disclosed
- Advent International
- Details: Advent International is a global private equity firm with a focus on buyouts and growth equity investments. They have invested in over 380 private equity transactions across 42 countries.
- Investment Focus Areas: Business and Financial Services, Healthcare, Industrial, Retail, Technology
- Notable Investments: Walmart Brazil, Olaplex, Sovos Brands
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation, focusing on early to growth-stage investments. They leverage Comcast's resources to help portfolio companies grow.
- Investment Focus Areas: Media, Technology, Consumer, Enterprise
- Notable Investments: Nextdoor, Houzz, FanDuel
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that invests in early-stage companies. They have a diverse portfolio and focus on transformative technologies.
- Investment Focus Areas: Technology, Financial Services, Healthcare, Media
- Notable Investments: BuzzFeed, Venmo, SpaceX
- Top Tier Capital Partners
- Details: Top Tier Capital Partners is a venture capital firm that specializes in secondary investments and primary investments in venture capital funds. They have a strong focus on technology and innovation.
- Investment Focus Areas: Technology, Innovation, Secondary Investments
- Notable Investments: Not publicly disclosed
What's Next for HYPR?
HYPR stands at the cusp of significant growth opportunities, driven by the increasing demand for passwordless authentication and the need to combat generative AI-driven attacks. With strategic partnerships and integrations with major technology companies like CrowdStrike, Yubico, and Microsoft, HYPR is well-positioned to expand its market presence across key verticals such as energy, automotive, healthcare, education, government, and financial services.
Future fundraising opportunities appear promising as HYPR continues to develop advanced identity verification solutions and expand its customer base, which includes Fortune 50 companies. The recent $30 million investment from Silver Lake Waterman underscores the potential for further investments to support HYPR's technological advancements and market expansion.
However, challenges remain. The company must navigate the competitive landscape of the identity security market, address the increasing sophistication of AI-powered attacks, and ensure the reliability of biometric authentication methods in the face of AI-generated deepfakes. Overcoming these hurdles will be crucial for HYPR to maintain its leadership in the industry.
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