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written by Bethany Kwoka
Forbes Technology Council Member Company HYPR Corp. Raises $3 Million Seed Round
HYPR is upping the cybersecurity game through a secure biometric authentication system.
This seed round will help the company strategically grow its world-class engineering team. HYPR also plan to expand its world headquarters in Herald Square, New York.
HYPR created a biometric authentication and encryption system that helps Fortune 500 companies deploy and scale a secure, password-less system using fingerprints, face, voice, palm and eye recognition. To protect users’ security, the company decentralizes and encrypts the data, then lets users log into their systems with tokenized biometric indicators. This makes it harder for hackers to obtain large lists of passwords, which is particularly important when it comes to biometric markers. The company’s system works for desktop, mobile and Internet of Things (IoT) systems.
“It’s not a good user experience to have to log into your toaster with a password. And you don’t want to unlock your home or car door with a PIN that someone could hack and steal,” said HYPR’s CEO George Avetisov in TechCrunch. “As more and more IoT devices become part of our lives, we will work with manufacturers to make them all as safe as a bank’s mobile app.”
As Kirill Sheynkman, managing partner and founder at RTP Ventures said in PR Newswire: “As businesses increasingly depend on connecting their core platforms to mobile and IoT devices, knowing who is on the other end of those connections becomes crucially important. We believe that HYPR can become a ubiquitous building block for the swelling wave of connected applications, giving their customers a way to securely interface with the complex mesh of users, devices and services.”