Comcast Ventures, mass media group Comcast’s corporate venture capital affiliate, has led an $18.3m series B round for US-based identity verification technology developer Hypr.
Payment services firm Mastercard and Samsung Next, a corporate VC subsidiary of electronics manufacturer Samsung, also participated, as did .406 Ventures, RRE Ventures, Allen & Co, Triphammer Ventures, Boldstart Ventures and RTP Ventures.
Hpyr is the creator of a mobile-focused authentication platform that enables users to access online accounts without using passwords, relying instead on cryptography. Comcast Ventures managing director Dave Zilberman has joined its board of directors in connection with the round.
Zilberman said: “We believe passwords continue to represent a serious risk to enterprises. HYPR addresses a large gap that legacy 2-factor authentication has left unsolved – the password. “The team’s strategy has allowed them to move quickly and provide rapid deployment of passwordless authentication across the enterprise.”
The round boosted Hypr’s overall funding to more than $32m and it follows an undisclosed amount from Mastercard supplied when the company joined its Mastercard Start Path accelerator in December 2017.
RRE Ventures had led Hypr’s $8m series A round two months earlier, investing with RTP Ventures, Boldstart Ventures and Mesh Ventures. The latter three had already contributed to a $3m seed round for the company in 2016.
