Hypr Corp., a NYC-based provider of enterprise-facing decentralized authentication solutions, received a strategic investment from Mastercard.
The amount of the deal was not disclosed.
Following the recently announced Series A funding round of $8m led by RRE Ventures, this strategic investment will further enable the company’s decentralized authentication solutions to extend into the millions of users across the Mastercard payments ecosystem.
Founded in 2014, Hypr provides a decentralized authentication solution that aims to improve security and reduce the risk of an enterprise data breach by putting consumers’ credentials on the device itself instead of in a central database. This approach provides consumers with greater security and usability during payments in the digital age and also has applications for online banking, merchant services, connected cars and other IoT initiatives.
The company has also been named to the latest class of Mastercard Start Path – a global initiative to support innovative companies with the potential to reshape the future of commerce to achieve scale.