HYPR, the cloud-based passwordless authentication firm, has recently announced that it has raised $35 million in a Series C funding round. This has doubled the company’s total financing to more than $70 million.
Advent International led the funding round, along with participation from the existing investors including .406 Ventures, RRE Ventures, BoldStart, Top Tier Capital, Samsung NEXT, Alumni Ventures Group, MESH, Allen & Co, and Mastercard.
As explained by George Avetisov, Co-Founder and CEO at HYPR, “The shift to remote work has propelled passwords to the top of every security organization’s list of priorities. As the sophistication and volume of cyber-attacks grow, we’re seeing unprecedented urgency for a solution to the password problem.”