Hypori's Series B raise grows to $35M
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The four-year-old company's network of investors now includes a global banking giant, one of the market's more active private equity firms and a key public sector tech distributor.
Hypori, a developer of mobile software to enable secured network access, has captured an extra $12 million in Series B capital from investors to bring the total amount raised in this round to $35 million.
The extension announced Tuesday includes investments from Switzerland-based financial giant UBS Group, private equity firm AE Industrial Partners and government technology distributor Carahsoft.
AEI and UBS are joining Hypori’s board of directors as advisers following the round’s completion.
UBS will also work with Hypori on the development of new tools amid the latter’s push to further expand across sectors such as government, health care, financial services and the defense industrial base.
Founded in 2021 by CEO Jared Shepard, Hypori designs its software to work on a user’s personal device so they can access to company information and applications. Hypori sees this as enabling zero-trust, bring-your-own-device programs at enterprise organizations and helping them eliminate data-at-rest requirements.
“Their belief in our product and direction, combined with their strategic guidance and relationships empower us to fast-track product innovation and broaden our market reach,” Shepard said in a release on the new investments. “As global threats escalate, organizations are prioritizing mobile security and data protection, while individuals prioritize privacy.”
Hypori’s activity in 2024 included a pair of key federal contract bookings, such as a $4.1 million award with the Air Force and Space Force covering 10,000 licenses of the company’s flagship product and building out a secure IT environment based on Amazon Web Services GovCloud.
A separate $12 million renewal with the Army tasks Hypori to help that service branch transition to a new environment also based on AWS GovCloud and further roll out bring-your-own-device solutions.
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