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- HYPR
HYPR Funding, Investors & Competitors
HYPR has raised $122M across 7 funding rounds, most recently a $30M undisclosed-stage round in June 2024.
Last HYPR funding round
$30M
Undisclosed stage · Jun 2024
Cumulative funding HYPR raised
$122M
across 7 funding rounds
Key investors in HYPR
RRE Ventures
boldstart ventures
Samsung NEXT
.406 Ventures
Mastercard
MESH
Alumni Ventures
Comcast Ventures
About HYPR
HYPR is a cybersecurity firm providing passwordless authentication via the HYPR Cloud Platform. Replacing traditional passwords with biometrics, security keys, and other factors, it enables fast logins and reduces authentication risks for enterprises, available at hypr.com.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
HYPR Funding History
HYPR has raised a total of $122M across 7 funding rounds.
HYPR's first fundraising round was a $800K angel round in June 2014. The most recent completed round was a $30M undisclosed-stage round in June 2024.
HYPR funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2024 | Undisclosed stage | Silver Lake Waterman (lead) | $30M | HYPR is an identity assurance company providing end-to-end passwordless authentication and identity verification solutions to combat credential-based attacks, including those driven by generative AI. It serves Fortune 50 enterprises across sectors like automotive, energy, education, financial services, government, and healthcare, with customers including large organizations and partnerships with IDEMIA, Okta, Ping Identity, and recently CrowdStrike. HYPR advances passkey adoption, reporting a 77 percent increase in usage among clients last year, and offers FIDO-certified multi-factor authentication integrated with extended detection and response capabilities. On May 27, 2024 (announced June 5), HYPR secured a $30 million investment from Silver Lake Waterman, an arm of Silver Lake providing growth capital to later-stage tech companies. This brings HYPR's total funding to approximately $122-127 million across seven rounds, following a $35 million Series C led by Advent International in 2021 and earlier raises like $18.3 million in 2019. Silver Lake Waterman, led by Managing Director Shawn O’Neill, praised HYPR's leadership in identity assurance against AI threats. The investment is structured as flexible expansion or mezzanine financing to support pre-IPO growth, with other backers including Top Tier Capital Partners, Point 406 Ventures, RRE Ventures, RTP Global, BoldStart, and Alumni Ventures Group. Funds will accelerate development of cryptographic technologies for passwordless solutions, policy risk management, and defenses against deepfake-driven fraud. This round validates HYPR's momentum amid rising adoption of its products by leading enterprises. The company operates from New York with offices in Boston, California, London, and Tokyo, positioning it in a competitive identity security market facing AI-powered attacks and biometric challenges. |
| Nov 2022 | Series C | Advent International (lead); Top Tier Capital Partners; .406 Ventures; RRE Ventures; Comcast Ventures | $25M | HYPR Corp., a New York-based pioneer in passwordless authentication, raised $25 million in a Series C1 funding round in December 2022, led by Advent International through its Advent Tech fund, with participation from existing investors .406 Ventures, RRE Ventures, Top Tier Capital Partners, and Comcast Ventures. This brought HYPR's total funding to $97 million. The capital is intended to expand go-to-market strategy, R&D efforts, and accelerate its mission to improve login experiences by delivering true passwordless multi-factor authentication. HYPR's True Passwordless MFA platform decouples authentication from identity providers, offering consistent experiences across heterogeneous infrastructures while balancing security and user experience. Deployments take hours instead of weeks or months, reducing cyber risks, enhancing user satisfaction, and cutting costs. Customers include two of the four largest US banks, Fortune 500 manufacturing conglomerates, and global insurance providers, with HYPR deploying solutions to hundreds of thousands of workforce users quarterly and expanding into consumer identity. A prior Series C round of $35 million was raised in April 2021, led by Advent International, with investors including RRE Ventures, .406 Ventures, Boldstart, Top Tier Capital, MESH, Alumni Ventures Group, Allen & Co, Samsung NEXT, and Mastercard, doubling total funding at that time to over $70 million. Funds supported go-to-market acceleration and global support growth to eliminate passwords worldwide. Since the 2019 Series B, HYPR had grown ARR by over 300 percent by April 2021. |
| Apr 2021 | Series C | Advent International (lead); Top Tier Capital Partners; .406 Ventures; Samsung NEXT; RRE Ventures; MESH; Alumni Ventures; boldstart ventures; Mastercard; Allen & Company | $35M | HYPR, a New York-based passwordless authentication company specializing in phishing-resistant multi-factor authentication (MFA), raised $35 million in a Series C funding round on April 20, 2021, led by Advent International with participation from RRE Ventures, .406 Ventures, Boldstart Ventures, Top Tier Capital Partners, MESH, Alumni Ventures Group, Allen & Co, Samsung NEXT, and Mastercard. The round doubled the company's total funding to over $70 million since inception. Funds were allocated to accelerate go-to-market strategy, double the workforce, and expand global support to eliminate passwords for businesses worldwide. Prior to the round, since its Series B in October 2019, HYPR grew its annual recurring revenue by more than 300 percent, doubled its customer base including global brands like Norwegian Airlines, Rakuten, Takeda Pharmaceuticals, CVS Health, Fiserv, and City National Bank, and expanded across over 20 verticals such as financial services, energy, automotive, healthcare, education, and government. The company had deployed solutions at scale for firms from 50 to 300,000 employees and sold over 100 million licenses, driven by rising fraud and regulations like PSD2. Post-round, in its fiscal year ending February 2022, HYPR doubled its ARR again, achieved over 260 percent ARR growth from a 187 percent increase in partner-closed deals, nearly doubled its customer base in Q4 2021 with financial services contributing 150 percent of growth, increased workforce by 107 percent, tripled Velocity Partner Program members, and expanded into new sectors like agriculture, auto, manufacturing, utilities, hospitality, tourism, nonprofits, and EMEA regions including Poland and Switzerland. Notable customers included Aon and Aetna CVS Health. |
| Oct 2019 | Series B | Comcast Ventures (lead); Ethos Family Office; .406 Ventures; Samsung NEXT; RRE Ventures; Alumni Ventures; boldstart ventures; Mastercard; Allen & Company | $18M | HYPR is a cybersecurity company providing True Passwordless Security solutions to eliminate passwords and enhance enterprise authentication, targeting fraud prevention, cost reduction, and improved user experience. The company announced a $18.3 million Series B funding round on October 1, 2019, led by Comcast Ventures, with participation from .406 Ventures, RRE Ventures, Allen & Co, Triphammer Ventures, Boldstart Ventures, RTP Ventures, Mastercard, and Samsung NEXT. This brought HYPR's total funding to over $32 million, following a $8 million Series A in October 2017. Dave Zilberman from Comcast Ventures joined the board as part of the deal. The new capital was earmarked to fuel growth, accelerate product delivery, and expand customer success operations amid a rapidly growing enterprise base. HYPR reported 350% year-over-year revenue growth and had deployed millions of users across notable customers including Mastercard, Aetna, Rakuten, First Citrus Bank, and T-Mobile. This traction positioned HYPR as a leader in passwordless security within a competitive cybersecurity landscape, emphasizing easy deployment and innovation over legacy two-factor authentication. No specific post-money valuation, absolute revenue, ARR, EBITDA, or valuation multiples were disclosed in the funding announcements. The investment underscored strong validation of HYPR's vision, with Comcast Ventures highlighting the solution's ability to address password vulnerabilities at enterprise scale. |
| Oct 2017 | Series A | RRE Ventures (lead); Samsung NEXT; MESH; boldstart ventures; Mastercard | $10M | HYPR Corp., an enterprise-facing decentralized authentication and identity assurance company, closed an $8 million Series A funding round in October 2017 led by RRE Ventures. Existing investors Mesh Ventures, BoldStart Ventures, and RTP Ventures also participated in the round. The funding brought HYPR's total capital raised to approximately $13 million, intended to accelerate deployment of its passwordless authentication and next-generation security solutions. The company had achieved significant market traction by this point, with its FIDO Alliance-compliant authentication service deployed across more than 25 million users within Fortune 500 enterprises. HYPR's decentralized authentication approach gained adoption across finance, insurance, and automotive sectors, addressing enterprise demand for enhanced security and privacy while reducing password-related fraud and breach risks. |
| Oct 2016 | Seed | MESH; boldstart ventures | $3M | - |
| Jun 2014 | Angel | - | $800K | - |
Who has invested in HYPR?
13 investors have backed HYPR across its funding rounds, including RRE Ventures, boldstart ventures, Samsung NEXT, .406 Ventures, Mastercard and MESH.
Lead investors include Silver Lake Waterman, Advent International, Comcast Ventures and RRE Ventures.
HYPR Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Oct 2017 | ||
| 4 | Participant | Oct 2016 | ||
| 3 | Participant | Oct 2019 | ||
| 3 | Participant | Oct 2017 | ||
| 3 | Participant | Oct 2016 | ||
| 3 | Participant | Oct 2017 | ||
| 2 | Participant | Apr 2021 | ||
| 2 | Lead | Oct 2019 | ||
| 2 | Lead | Apr 2021 | ||
| 2 | Participant | Oct 2019 | ||
| 2 | Participant | Oct 2019 | ||
This data is available for Pro users. Sign up to see all 13 HYPR investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialHYPR Competitors
HYPR competitors include listed companies like Palo Alto Networks, CrowdStrike, IBM and Fortinet, and private ones like Safe Superintelligence and Cyera.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $11B | $1B | $307B | 25.9x | ||
| Publicly listed | $4.8B | ($12M) | $252B | 44.5x | ||
| Publicly listed | $68B | $17B | $224B | 4.0x | ||
| Publicly listed | $6.8B | $2.3B | $127B | 15.9x | ||
| Private | - | - | $32B | - | ||
| Private | $150M | - | $12B | 80.0x |
HYPR Public Comps
HYPR is still privately-owned, but its public comps include Palo Alto Networks, CrowdStrike, IBM, Fortinet, Cloudflare, Okta, Zscaler, F5, Rubrik and Gen Digital.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $11B | $1B | 26.7x | 25.9x | 301.1x | 76.9x | |||
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $68B | $17B | 4.2x | 4.0x | 16.9x | 14.6x | |||
| $6.8B | $2.3B | 18.1x | 15.9x | 53.7x | 41.9x | |||
| $2.2B | ($25M) | 54.6x | 44.3x | (4653.4x) | 185.1x | |||
| $2.9B | $245M | 10.6x | 10.0x | 126.4x | 36.4x | |||
| $3.4B | $42M | 9.1x | 8.9x | 721.8x | 32.5x | |||
| $3.1B | $901M | 7.5x | 6.9x | 25.8x | 18.3x | |||
This data is available for Pro users. Sign up to see all HYPR competitors and their valuation data. Start Free Trial | ||||||||
Common questions about HYPR
| When was HYPR founded? | HYPR was founded in 2014. |
| Where is HYPR headquartered? | HYPR is headquartered in New York City, NY, United States. |
| Is HYPR publicly listed? | No, HYPR is a private, VC-backed company. |
| How much funding has HYPR raised? | HYPR has raised $122M across 7 funding rounds. |
| What was HYPR's last funding round? | HYPR's last funding round was a $30M undisclosed-stage round in June 2024, led by Silver Lake Waterman. |
| Who are HYPR's investors? | HYPR's investors include RRE Ventures, boldstart ventures, .406 Ventures, Samsung NEXT, MESH, Mastercard, Top Tier Capital Partners, Comcast Ventures, Advent International, Alumni Ventures and 3 others. |
| Which companies are comparable to HYPR? | Companies comparable to HYPR include Palo Alto Networks, CrowdStrike, IBM, Fortinet, Safe Superintelligence and Cyera. |
See companies similar to HYPR
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