Total amount raised
$91.3 Millions
Latest funding date
12/1/2022
Location
HYPR has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company specializes in passwordless authentication solutions, aiming to enhance identity security.
Keep reading to explore the intricacies of HYPR's fundraising journey and the investors backing this innovative platform.
What Is HYPR?
HYPR, founded on June 2, 2014, is a cybersecurity company based in New York, New York. The company specializes in passwordless authentication solutions, aiming to reduce the risks associated with password-based authentication by using biometrics and security keys.
The founders of HYPR are Bojan Simic, George Avetisov, James Barcia, and Roman Kadinsky. Their innovative approach focuses on eliminating passwords to deliver fast and secure login experiences.
With a team of 101-250 employees, HYPR continues to advance in the field of identity security, providing robust solutions to enhance identity assurance and prevent credential phishing attacks.
How Much Funding Has HYPR Raised?
- Angel Round
- Amount Raised: $800K
- Date: June 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their passwordless authentication technology.
- Seed Round
- Amount Raised: $3M
- Date: October 2016
- Lead Investors: RTP Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $10M
- Date: October 2017
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $18.3M
- Date: October 2019
- Lead Investors: Comcast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and integrate with more enterprise systems.
- Series C
- Amount Raised: $35M
- Date: April 2021
- Lead Investors: Advent International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance security features and support growing customer demand.
- Series C
- Amount Raised: $25M
- Date: November 2022
- Lead Investors: Advent International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI-driven security solutions and expand globally.
- Venture Round
- Amount Raised: $30M
- 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 policy risk and identity verification products.
HYPR has raised a total of $122.1M in funding. The current valuation is 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. 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 one of the largest and most experienced global private equity investors. They have invested in over 380 private equity transactions in 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. They invest in innovative companies across a range of industries.
- Investment Focus Areas: Media, entertainment, technology, consumer products.
- Notable Investments: Nextdoor, Houzz, FanDuel.
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that invests in early-stage companies. They focus on transformative technologies and business models.
- Investment Focus Areas: Fintech, enterprise software, cybersecurity, consumer technology.
- Notable Investments: BuzzFeed, Venmo, Palantir Technologies.
- RTP Ventures
- Details: RTP Ventures is a venture capital firm that invests in early-stage technology companies. They are part of RTP Global, which has a global investment footprint.
- Investment Focus Areas: SaaS, fintech, healthcare IT, AI.
- Notable Investments: Datadog, RingCentral, Cred.
What's Next for HYPR?
HYPR stands at the forefront of a significant opportunity to revolutionize identity security. With the rising threat of generative AI-driven attacks, the demand for robust, passwordless authentication solutions is higher than ever. HYPR's strategic integrations with major technology companies like CrowdStrike, Yubico, and Microsoft, along with its innovative products such as HYPR Affirm, position it well to capture a substantial market share across various industries, including energy, healthcare, and financial services.
Future fundraising opportunities appear promising as the company continues to expand its customer base and enhance its technology. The recent $30 million investment from Silver Lake Waterman underscores investor confidence and sets the stage for potential additional funding rounds. However, HYPR will need to navigate challenges such as the increasing sophistication of AI-powered attacks and the industry's reliance on traditional authentication methods. Maintaining rapid innovation and ensuring seamless integration with various platforms will be crucial for sustained growth.
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