RRE Ventures led the round, which included also existing investors RTP Ventures, Boldstart Ventures and Mesh Ventures. The company said it would use the new funds to accelerate deployment of its next-generation security solutions.
The company was founded in 2014, focusing on safeguarding personal credentials on individual devices by developing an enterprise-focused decentralized authentication platform. HYPR is applicable in a wide variety of enterprise uses, including banking, insurance, online payments and retail environments.
The platform is designed to reduce the risk of a large data breach by eliminating the need to centrally store credentials. Furthermore, it claims to secure any form of authentication, including passwords, PIN numbers and biometrics such as fingerprint, face, hand, retina, iris, voice and behaviour.
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