AUSTIN, Texas--(BUSINESS WIRE)--Hypori, an enterprise mobile security startup, announced today the close of a $20M Series A investment led by GreatPoint Ventures (GPV). Hypori offers security and management solutions that protect corporate apps and data on personal mobile devices, helping enterprises address the growing mobile BYOD "Bring Your Own Device" trend. Hypori protects sensitive data on any edge device, regardless of hardware, software, or operating system, securely extending the power of Cloud. The new approach empowers organizations the freedom to work remotely and securely.
Unlike other solutions, Hypori’s approach has forensically proven that no data is transferred or stored on the physical end point device. This “Zero Trust” approach significantly reduces the costs associated with device management, Mobile OS versions, and the potentially-damaging costs associated with data breaches on a device. Hypori enables true BYOD – employees own the phone; the company owns the virtual device in their controlled environment.
BYOD is more prevalent in the workforce than ever before. Due to COVID-19 pandemic, recent data suggests approximately 85% of organizations already enable bring your own device (BYOD) environments for both employees and partners. The pandemic has further triggered a massive transformation in the employees' working culture, with a majority portion of the organizations adopting BYOD trends. Companies adopting BYOD benefit from reduced hardware and software costs; however, it also increases unnecessary vulnerabilities to the company's network and data and other security concerns. Hypori has already been adopted by the U.S. Department of Defense and various Fortune 500 corporations for its exclusive BYOD mobile security platform provider.
The proceeds will help Hypori expand its platform to vertical markets, including fintech and healthcare.
As part of the financing, Ray Lane, a Managing Director at GreatPoint Ventures and former President and COO of Oracle, will join the Hypori board. "Hypori is solving a crucial BYOD pain point - data security and secure remote accessibility," said Ray Lane, General Partner at GreatPoint Ventures. "Recent security breaches across the globe have driven the need for trusted platforms like Hypori...we look forward to working with and growing Hypori to meet these needs."
Jared Shepard, Hypori's CEO, stated, "We are excited to have industry disruptors and leaders like GPV, Ray Lane, Ashok Krishnamurthi, Andrew Perlman, and Sohila Zadran. Hypori is poised to capitalize on the perfect storm of demand for Zero Trust Architecture (ZTA) technologies that prevent data-at-rest and data-in-transit, enable secure access and interaction with data, expansion of the remote workforce with access requirements like Bring Your Own Device (BYOD), and growth of 5G enabled mobility. Now more than ever, cybersecurity is critical to the functions of our public and private sectors, and to protect sensitive data on any device, from any network. Unlike other solutions that are tied to the device and potentially impinge user privacy, Hypori breaks the binds to hardware by enabling secure access without device enrollment, collapsing the security boundary from edge devices to the enterprise.”
Hypori has recently won national and international acclaim by winning top honors in numerous cybersecurity competitions, including The 2021 Cybersecurity Excellence Award, The 2021 Thomas Edison Award, The 2021 Global Infosec Cyber Defense Awards, The 2020 George C. Marshall International Center's Defense Innovations Award, and The 2020 Washington Technology's Government Innovations Award.
For more information, please visit Hypori.com
About GreatPoint Ventures:
Founded in 2015, GreatPoint Ventures partners with outstanding entrepreneurs and management teams to build world-class businesses. GPV invests in early-stage companies at seed and Series A. GPV has helped entrepreneurs build several successful companies, many of which have defined their categories, including Skyhawk Therapeutics, Sidecar Health, Beyond Meat, Extend, Vim Business, Kinetica, and Excision. For more information, please visit the GreatPoint Ventures website at www.gpv.com find us on Twitter @GreatPointVC