Passwordless authentication provider Hypr has announced receiving $30 million in funding from Silver Lake Waterman, bringing its total funding to over $127 million. The New York City-based company, which also has offices in Boston, California, London, and Tokyo, offers solutions for secure logins on mobile and web applications using multi-factor authentication (MFA).
Hypr’s passwordless authentication technology is being adopted across various sectors, including automotive, energy, education, financial services, government, and healthcare. Strategic partnerships with major firms like CrowdStrike, Idemia, Microsoft, Okta, Ping Identity, and YubiKey, along with large-scale deployments by enterprises, validate the effectiveness of its FIDO passkey-based MFA platform.
The new investment will be directed towards combating generative AI-driven credential-based attacks, a growing threat in the cybersecurity landscape. Hypr’s approach to identity assurance and proactive measures against these threats underscore its leadership in the field, according to Silver Lake Waterman managing director Shawn O’Neill.
Bashar Abouseido, CISO at Charles Schwab, emphasized the importance of prioritizing security in an era of escalating threats. He expressed confidence in Hypr’s ability to continue delivering secure and frictionless authentication experiences through its innovative solutions and strategic partnerships.
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