RESTON, Va.--(BUSINESS WIRE)--Hypori, an award-winning SaaS company transforming secure access to data from the edge, announced today the close of an initial $10.5 million Series B investment led by Hale Capital Partners with additional funds from Series A investor GreatPoint Ventures, GEN David Petraeus, and other participants. As part of a total fundraising round with commitments to invest up to $18 million, these funds are a testament to the company’s growing and increasing valuation, and its product's significance and impact on national security and user privacy. The Series B funding will enable Hypori to expand its position as the leading provider of zero-trust bring-your-own-device (“BYOD”), with no data at rest or in transit, that is secure enough for the Department of Defense and private enough for regulated commercial industries.
Hypori’s zero-trust approach to mobile security moves the security target from the edge device to a virtual workspace in a secure and controlled cloud or data center, providing an unparalleled defense to isolate and protect privacy, personal data, and organizational data. Hypori Halo is a virtualized Android OS that operates as a separate, 100% private, virtual workspace on any mobile device, protecting customer data within their enterprise by preventing data at rest or in transit outside the enterprise. Companies and government agencies using BYOD programs can eliminate data at rest requirements from the physical device, minimize the risk of data loss, and eradicate the threat of malware entering an enterprise from an end-user device with Hypori Halo.
Today’s hybrid and remote workforce rely on their own devices to be productive. 75% of employees use their personal cell phones for work and 83% of companies have a BYOD policy of some kind1. Companies adopting BYOD programs benefit from reduced hardware and software costs; however, it also increases unnecessary vulnerabilities to the company’s network and data and other security and liability concerns. Hypori Halo zero-trust BYOD is already eliminating these concerns for DoD, defense industrial base, and commercial customers. The Series B funding will help Hypori to more rapidly scale to meet the needs of the U.S. Army phase 3 BYOD rollout currently delivering Hypori Halo to 20k+ users across the Army, Army Reserve, and Army National Guard.
As part of the financing, Martin M. Hale, Jr., Managing Partner at Hale Capital Partners, will join the Hypori Board of Directors (the “Board”). “We are thrilled to be working with Hypori. We admire their leadership and customer-focused approach to solving critical national security and commercial security needs while delivering a compelling user experience,” said Hale. “With no data at rest and no data in transit, their BYOD solution appears to us to be a game changer. We look forward to supporting Hypori as it scales and delivers unmatched security and ease of use to its customers."
Rich Sawchak, CEO of Systems Planning and Analysis, former Hypori CFO, will also join the Board.
Jared Shepard, Hypori President and CEO, stated, “This is a pivotal moment of change for Hypori. Hale Capital and Marty are exactly what we needed to continue to drive disruptive innovation and transform secure access and interaction with data from the edge. Hypori is changing the way the industry thinks about cybersecurity and operating at the speed of cloud to achieve mission success.”
Last week, Hypori was named a Best Place to Work by Built In Austin, ranking 13th out of 100 midsize companies, won Outstanding New Cyber Security Product 2022 at the Cyber Outstanding Security Performance Awards in December, and was awarded Most Innovative Mobile Device Security Solution at the 10th Annual Global InfoSec Awards at the RSA Conference in June 2022.
J.P. Morgan acted as placement agent for Hypori and provided access to their proprietary CapitalConnect platform to support the fundraising process.
About Hale Capital Partners
HCP partners with talented entrepreneurs to achieve remarkable corporate transformations. We serve as stewards for the ideas of extraordinary leaders as they seek to accelerate growth. Founded in 2007, Hale's roadmap to success centers on a program of transformation— financial, cultural, and operational—developed from extensive academic work and two decades of investment expertise. This critical intellectual property helps our companies evolve, grow, and compete in an ever-shifting marketplace. To learn more about Hale Capital, visit halecapital.com.
About GreatPoint Ventures
Founded in 2015, GreatPoint Ventures partners with outstanding entrepreneurs and management teams to build world-class businesses. 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.
About Hypori
From national security level intel to productivity apps, Hypori empowers customers to protect data within their enterprise by eliminating the edge as an attack surface, preventing data at rest or in transit outside the enterprise. Hypori’s zero-trust virtual workspace on any device frees organizations from liability and security risks with 100% separation of data and preserves privacy for the end-user. Hypori is a service-disabled veteran-owned small business headquartered in Reston, VA with a technology hub in Austin, TX.
1Zippia. "26 Surprising BYOD Statistics [2022]: BYOD Trends In The Workplace" Zippia.com. Oct. 17, 2022, https://www.zippia.com/advice/byod-statistics/
