Austin-based Hypori, a company that develops security software for mobile devices, has raised $20 million to continue its growth.
Hypori makes security and management technology that protects corporate apps and data on personal mobile devices. Hypori’s technology is designed to combat security problems that can come from employees increasingly using their personal devices, especially as more employees have worked remotely due to the coronavirus pandemic.
Hypori was founded in 2011 by Justin Marston and Brian Vetter, who co-developed the software with the U.S. Department of Defense with the goal of developing a more secure way for employees to access sensitive data, while remote. The company’s customers currently include federal agencies and corporate enterprises.
Hypori said the new funding round, which was led by San Francisco-based GreatPoint Ventures, will help it expand its platform into new markets, including the financial technology and health care sectors.
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“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,” Jared Shepard, Hypori’s CEO, said in a written statement. “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.”
The company currently employs 70 people and also has offices in Reston Virginia, with plans to expand.
“Hypori has been very fortunate in that all of our employees have been able to work remotely during the pandemic. Hypori is in growth mode and expects to be over 100 employees by the end of the year,” the company said in a statement.
The company’s software is built around a set of cybersecurity principles called Zero Trust which requires verification for every device that attempts to access a company’s resources. It also means that no data is transferred or stored on a physical end point device, such as a laptop, desktop, mobile phone, tablet or server. Instead, data is stored in a cloud-based virtual environment.
Hypori said it expects more demand for its technology as companies increasingly expand their remote workforces.
As part of the funding deal, Ray Lane, a managing director at GreatPoint Ventures, will join Hypori’s board of directors. Lane previously was president and chief operating officer of tech giant Oracle.
“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,” Lane said in a written statement.
