HYPR Corp., a NYC-based provider of enterprise facing decentralized authentication solutions, closed an $8m Series A round of funding.
The round, which brings total funding to date to $12.8m, was led by RRE Ventures with participation from existing investors RTP Ventures, Boldstart Ventures, and Mesh Ventures. In conjunction with the funding, James Robinson IV of RRE Ventures will join HYPR’s board of directors.
The company intends to use the funds to accelerate deployment of its security solutions to new verticals including online banking, ATMs, smart homes, and connected cars.
Led by George Avetisov, CEO, HYPR provides enterprise with a decentralized authentication platform that aims to reduce the risk of a mass data breach by eliminating the need to centrally store credentials. The platform decentralizes and secures any form of authentication including passwords, PINs, and biometrics such as fingerprint, face, hand, retina, iris, voice, and behavior.