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Austin, Texas – (BUSINESS WIRE) – Hypori, an enterprise mobile security startup, today announced the completion of a $ 20 million Series A investment led by GreatPoint Ventures (GPV). Hypori offers security and management solutions that protect corporate applications and data on private mobile devices and help companies meet the growing mobile BYOD trend of “Bring Your Own Device”. Hypori protects sensitive data on every edge device, regardless of hardware, software or operating system, and securely extends the performance of the cloud. The new approach gives companies the freedom to work remotely and securely.
In contrast to other solutions, Hypori’s approach has forensically proven that no data is transmitted or stored on the physical end device. This “zero trust” approach significantly reduces the costs associated with device management, mobile operating system versions, and the potentially harmful costs associated with data breaches on a device. Hypori enables real BYOD – employees own the phone; the company owns the virtual device in its controlled environment.
BYOD is more widespread among the workforce than ever before. Due to the COVID-19 pandemic, recent data suggests that around 85% of companies are already enabling BYOD (bring your own device) environments for employees and partners. The pandemic has also triggered a massive change in the work culture of employees, with the majority of companies adopting BYOD trends. Companies that use BYOD benefit from reduced hardware and software costs; However, it also increases unnecessary security loopholes for the company’s network and data, as well as other security concerns. Hypori has already been acquired by the US Department of Defense and various Fortune 500 companies for its exclusive provider of the mobile security platform BYOD.
The proceeds will help Hypori expand its platform to vertical markets, including fintech and healthcare.
As part of the financing, Ray Lane, Managing Director at GreatPoint Ventures and former President and COO of Oracle, will join Hypori’s board of directors. “Hypori solves a key BYOD issue – data security and secure remote access,” said Ray Lane, general partner at GreatPoint Ventures. “The recent security breaches around the world have increased the need for trusted platforms like Hypori … we look forward to working with and expanding Hypori to meet these needs.”
Jared Shepard, CEO of Hypori, said, “We’re excited to have industry disruptors and leaders like GPV, Ray Lane, Ashok Krishnamurthi, Andrew Perlman and Sohila Zadran. Hypori is poised to move from the perfect storm of demand for Zero Trust Architecture (ZTA) Technologies that prevent data-at-rest and data-in-transit, secure access and secure interaction with data, an expansion of remote employees with access requirements such as bring your own device (BYOD) and the growth of 5G-enabled mobility Enabling Cybersecurity is more critical than ever to the functioning of our public and private sectors, and to protecting sensitive data on any device and from any network, unlike other solutions that are device-tied and potentially compromising user privacy , Hypori breaks its ties to hardware by allowing secure access without device registration, thereby reducing the security limit of v on edge devices up to the company. ”
Hypori has recently received national and international recognition by receiving top honors in numerous cybersecurity competitions, including the Cybersecurity Excellence Award 2021, the Thomas Edison Award 2021, the Global Infosec Cyber Defense Awards 2021, the George Defense Innovations Award 2020 C. Marshall International Center, and the 2020 Washington Technology Government Innovation Award.
For more information, please visit Hypori.com
About GreatPoint Ventures:
Founded in 2015, GreatPoint Ventures works with great entrepreneurs and management teams to build world-class companies. 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 and find us on Twitter @GreatPointVC
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