HYPR
Overview
HYPR, founded in 2014, is a cybersecurity company specializing in passwordless authentication solutions, designed to eliminate the vulnerability associated with passwords and enhance user experience. Based in New York City, HYPR has raised over $128 million across multiple funding rounds, with significant participation from investors like Silver Lake Waterman and Advent International. The company was founded by Bojan Simic, George Avetisov, Roman Kadinsky, and James Barcia, and it continues to expand its reach with offices in major cities around the world.
Recent Developments
- June 2024: HYPR raised a substantial $30 million from Silver Lake Waterman to bolster its defenses against advanced AI-driven credential-based attacks. This funding aims to further develop HYPR's technologies, including cryptographic solutions to counteract generative AI threats. HYPR's passwordless authentication tools saw a significant rise in deployments across Fortune 50 enterprises. The company also announced new integration capabilities with partners like CrowdStrike and Microsoft.
- May 2024: The company celebrated the best Q1 in its history, tripling user deployments year over year. New leadership roles were filled to accelerate growth, with new additions like Anthony Belfiore to the Board of Directors and Matt Hartley as CRO.
- October 2023: HYPR, alongside IDEMIA and Wavelynx, developed a converged access card that integrates secure, phishing-resistant authentication technologies, showcasing its commitment to security convergence and zero-trust architectures.
- March 2023: HYPR launched the 'HYPR Affirm', the industry’s first unified identity verification solution, highlighting its proactive stance against identity security threats powered by generative AI.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2014 |
| Headquarters | New York City, United States |
| Founders | Bojan Simic, George Avetisov, Roman Kadinsky, James Barcia |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Silver Lake Waterman, Advent International, others |
| Industry | Cybersecurity, Identity Management |
| Number of Employees | 118 |
Early History
HYPR was established in 2014 by tech visionaries Bojan Simic, George Avetisov, Roman Kadinsky, and James Barcia, who aimed to tackle the longstanding security challenge posed by passwords. The company's inception was marked by a focus on passwordless security solutions, offering businesses a robust alternative to traditional authentication methods. Early supporters and investors included major industry players like Mastercard and Samsung. This foundation allowed HYPR to grow rapidly, pioneering developments in decentralized authentication and gaining early adoption among Fortune 500 companies.
Company Profile and Achievements
HYPR's passwordless authentication platform is renowned for its simplicity and effectiveness in eliminating the risks associated with passwords. By integrating biometrics, security keys, and other advanced authentication methods, HYPR provides a seamless user experience that enhances security without compromising usability.
- 2017: Acknowledged by Gartner as a 'Cool Vendor' in the identity assurance space.
- 2019: Expanded operations globally, establishing offices in key international markets including London and Tokyo.
- 2021: Achieved significant milestones with a 300% increase in annual recurring revenue and an expansion of its customer base to include leading brands across multiple sectors.
- 2023: Launched 'HYPRspeed', a capability that enhances authentication security while reducing user frictions.
Current Operations and Market Position
Currently, HYPR stands as a leader in the identity assurance market, providing high-assurance, passwordless authentication solutions to some of the world’s largest corporations, including two of the four largest US banks. The company's market position is bolstered by its FIDO-certified multi-factor authentication tools and strategic collaborations with technology leaders like Microsoft and Idemia. HYPR's solutions are deployed in over twenty vertical markets, predominantly in financial services, healthcare, and government sectors. The company’s strategic focus on eliminating passwords aligns with growing global demand for cybersecurity initiatives.
Conclusion
HYPR is leading the charge in redefining identity security through passwordless authentication, addressing one of the most persistent vulnerabilities in cybersecurity. With a strong focus on innovation and strategic partnerships, HYPR is well-positioned to continue to influence the global market for identity assurance. Looking to the future, HYPR's commitment to integrating cutting-edge technologies in AI and identity verification ensures it remains at the forefront of cybersecurity solutions. Given the escalating threats posed by technological advancements, HYPR's solutions are more pertinent than ever, promising a pathway to enhanced security and trust in digital identity environments.