Hypori Attracts Major Investment to Fortify Mobile Security
Hypori, a leading mobile access platform provider, has successfully secured a significant $12 million Series B extension. This strategic investment aims to enhance its capacity for zero-trust bring-your-own-device (BYOD) programs, reinforcing secure mobile access technology across various industries.
Investment Contributors and Goals
The recent funding round included key investors such as UBS AG, Carahsoft Technology Group Corp., and AE Industrial Partners. With these investments, Hypori is positioned to propel its growth further and broaden its market influence. This extension has pushed Hypori’s total Series B funding to $35 million, which allows the company to enhance partnerships within the defense, healthcare, financial services, and government sectors.
Focus on Digital Transformation
"Hypori is at the forefront of digital transformation in today’s security-conscious landscape," remarked Paul McEwen, Group Head of Technology Services at UBS. He emphasized the synergy between Hypori’s innovations and UBS's commitment to securing client data while facilitating employee mobility. This investment not only strengthens Hypori’s offerings, but it is also seen as a crucial development aligned with UBS’s digital strategy.
Partnerships Enhancing Business Growth
Hypori aims to leverage alliances with its investors to scale product deployments and deepen its reach in essential industries. AE Industrial and UBS have joined the company’s Board of Directors, bringing their extensive industry knowledge and connections. These collaborations are expected to empower Hypori to respond swiftly to the evolving market needs while ensuring a secure mobile environment for users.
Leadership Insights
Jared Shepard, CEO of Hypori, expressed excitement about the support from AE Industrial, UBS, and Carahsoft. He stated, "Their belief in our product and direction empowers us to expedite product innovations. As security threats rise, we aim to enhance mobile security and data protection without compromising user privacy." Hypori’s innovative approach positions it optimally for significant growth in the upcoming years.
2024: A Year of Vast Growth
In the past year, Hypori has made notable strides. Major achievements include securing a $4.1 million contract with the United States Air Force and Space Force and a substantial $12 million renewal with the U.S. Army for ongoing BYOD initiatives. Additionally, Hypori has focused on expanding its sales team and has made strides in receiving the Federal Risk and Authorization Management Program (FedRAMP) "In Process" designation, increasing its credibility among potential clients.
Adapting to Market Demands
This growth trajectory reflects Hypori’s commitment to supporting organizations as they adopt BYOD strategies. By enabling secure mobile access without traditional data storage methods, Hypori alleviates the inherent risks associated with data management and aids compliance for regulated industries.
About AE Industrial Partners
AE Industrial Partners is a noted private investment firm managing $5.6 billion in assets. Their focus extends to markets such as national security and aerospace, emphasizing value creation alongside management teams across their portfolio. With a history of completing over 130 investments, AE Industrial brings significant experience to its partnerships.
About UBS AG
UBS AG stands as a major Swiss financial institution, offering an extensive range of services including investment banking and wealth management. Established through the merger of two significant banks, UBS AG is recognized as the largest private bank globally, emphasizing secure financial strategies for clients.
About Carahsoft
Carahsoft serves as a vital IT solutions leader, dedicated to providing technology solutions to the government, healthcare, education, and commercial sectors. Their rapid growth marks them as a trusted distributor in the public sector.
About Hypori
Hypori stands as a pioneer in mobile access solutions, enabling organizations to securely access enterprise apps and data from any mobile device while maintaining user privacy. The platform's unique architecture ensures no data is processed or stored, making it ideal for industries requiring stringent security measures. Hypori operates on a philosophy of minimal worries for users, making it an attractive solution for BYOD adoption.
Frequently Asked Questions
What is the purpose of Hypori's recent funding?
The recent funding aims to enhance Hypori's ability to support zero-trust BYOD programs and expand its market reach.
Who are the key investors in Hypori's latest funding round?
Key investors include UBS AG, Carahsoft, and AE Industrial Partners.
What industries does Hypori aim to grow in?
Hypori targets sectors such as defense, healthcare, financial services, and government for growth and expansion.
What makes Hypori's platform unique?
Hypori's platform ensures total privacy by not processing or storing user data, effectively reducing risks associated with data management.
How does Hypori support BYOD initiatives?
Hypori simplifies compliance and enhances security for organizations implementing BYOD programs, making it easier to prevent data loss and mitigate risks.
