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Multi-factor authentication firm Hypr nets $25M in latest round of fundraising

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Multi-factor authentication firm Hypr nets $25M in latest round of fundraising

A multi-factor authentication startup closed a $25 million series C1 led by a private equity fund that led a previous round December 1.

Hypr, which fashions itself a phishing-resistant MFA software company, plans to use the money expand its go-to-market strategy and pump its research and development. No valuation was disclosed.

The eight-year-old company has raised a total of $97 million from 13 investors in six rounds.

The round was led by Advent International Tech Private Equity Fund, an elder tech investor among its equity peers. Advent also led Hypr’s $35 million series C in April 2021.

One interesting aspect to the series C1 is that Comcast Ventures participated. It is the corporate venture capital unit of U.S. entertainment and telecommunications giant Comcast Corp. The company could be looking at any number of applications for passwordless security.

Also participating were .406 Ventures, an early-stage tech investor; RRE Ventures, also an early-stage tech investor and Top Tier Capital Partners, an investment management firm. All but Comcast were part of the much larger series C.

That round also drew in Mastercard; infrastructure investor Samsung Next; electronics-focused MESH venture firm; Boldstart Ventures; Alumni Ventures Group and Allen & Co., a boutique investment bank investing in technology.

Hypr partnered with Hitachi ID to launch biometric passwordless authentication tool Bravura OneAuth in August.

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