HYPR, The Passwordless Company™ today announced it has raised $35 million in a Series C financing, doubling the company’s total funding to over $70 million. The investment is led by Advent International through Advent Tech, the firm’s dedicated global technology fund. Advent has significant experience in cyber technology, including recent early-stage investments in Wiz and Cyware.
The Series C investment comes amid significant momentum for HYPR as it grows market share and the global workforce pivots to a flexible workplace model.
HYPR will leverage the capital to accelerate its go-to-market strategy and grow its global support organization in an effort to eliminate passwords for businesses worldwide. Advent joins HYPR’s existing investors including RRE Ventures, .406 Ventures, BoldStart, Top Tier Capital, MESH, Alumni Ventures Group, Allen & Co, Samsung NEXT and Mastercard.
“Removing passwords for customers and employees eliminates a critical cybersecurity vulnerability, lowers IT support costs, and improves the overall user experience,” said Ashwin Krishnan, a Principal on Advent’s technology team in New York.
Source: PR Newswire
