HYPR provides passwordless, FIDO passkey-based multi-factor authentication and identity assurance solutions for enterprises. The company promotes elimination of passwords and shared secrets across the enterprise and offers policy risk and identity verification products. HYPR cites large-scale deployments with an expansive customer base that includes Fortune 50 companies and rapid adoption metrics: a 77% increase in workforce passkey usage and 367% year-over-year growth in consumer passkey deployments among its customers. One large healthcare customer deployed one million passkeys in ten weeks, and a top-four U.S. bank became the world’s largest enterprise adopter of FIDO passkeys with HYPR. HYPR is expanding integrations and strategic technical alliances with vendors such as CrowdStrike, Yubico, Microsoft, Okta, Ping Identity, and Idemia. The company is targeting verticals including energy, automotive, healthcare, education, government, and financial services as it scales. HYPR builds a True Passwordless™ MFA platform that decouples authentication from an organization’s identity providers and implements FIDO standards to deliver phishing‑resistant authentication. Its product aims to eliminate passwords while preserving a consumer‑grade user experience and strong security assurance. The company reports deployments of passwordless solutions to hundreds of thousands of workforce users per quarter and enterprise customers that include two of the four largest U.S. banks, Fortune 500 manufacturers, and global insurance providers. HYPR says industry bodies and platform leaders are expanding support for FIDO, and officials such as CISA have urged adoption of phishing‑resistant MFA. The company plans to use new capital to expand its go‑to‑market strategy and accelerate R&D to further its mission to “Fix the Way the World Logs In.” HYPR has raised a total of $97 million to date. Hypr provides a cloud-based Passwordless Multi-factor Authentication platform designed to eliminate passwords and deliver fast login experiences. Its technology aims to stop phishing, reduce fraud, and enable security for employees and customers globally. The company is led by Co-Founder and CEO George Avetisov and has offices in Boston, California, London and Tokyo. In April 2021 Hypr raised $35M in a Series C that doubled its total funding to over $70M. The company will use the capital to accelerate its go-to-market strategy and grow its global support organization, planning to double global headcount with hiring ongoing in every department. Hypr provides an authentication platform purpose-built to eliminate passwords and shared secrets, combining enterprise-grade security with a mobile-first user experience powered by advanced public key cryptography. The solution forces adversaries to attack each device individually while enabling secure logins across mobile, web and desktop applications. Customers include Mastercard, Aetna, Rakuten, First Citrus Bank and T-Mobile. The company intends to use new funding to accelerate growth, deliver new products and expand customer success operations across its enterprise base. Hypr was founded in 2014 and is based in New York City, with offices in North America and EMEA. The company has raised more than $32M to date. HYPR builds decentralized authentication software that keeps personal credentials—biometrics, PINs and passwords—on users' devices rather than in a central repository. Its core product enables fast, biometric-based access to mobile and web applications and is designed to reduce enterprise breach risk and IT costs. The company has integrated with Samsung Pass to allow employees to authenticate into workstations directly from Samsung mobile devices. Samsung NEXT has invested in HYPR, a move the company says will accelerate adoption of decentralized biometric experiences in the enterprise. HYPR reports having secured over 25 million users and is trusted by Fortune 500 customers such as Mastercard. The business cites the proliferation of biometric-capable devices as a driver of enterprise adoption.

Total raised

$119M

Funding rounds

8

Latest round

Equity

Latest activity

Jun 2024